Union defers bank strike; banks set to open Monday

Union officials deferred a nationwide bank strike planned for September 28–30 after late-night talks, officials said, and banks are expected to operate normally from Monday. Reaction pending.

Five-day banking week talks

Officials said banks plan to keep branches open and routine clearing and payment services running on Monday, reducing the immediate risk of branch closures and transaction delays. Customers should expect normal operating hours but may face isolated local adjustments if talks resume in particular regions.

The deferral removes a near-term operational shock to lenders. Mechanically, a postponed strike reduces the probability of branch shutdowns and payment backlogs, which in turn lowers short-term funding and reputation risks that can weigh on bank equity valuations.

Scenario watch: If talks produce a settlement by Friday, October 2, the banking sector should see a rapid easing of uncertainty. If talks do not produce a settlement by October 2, then lenders could face renewed operational risk and bank equities could come under pressure as investors price in potential branch disruptions and payment delays.

Officials said the talks involved the union's demand for a five-day banking week and other workplace issues and that negotiations will continue. The banking association and union officials held discussions late on Sunday that led to the deferral, officials said.