India bank unions call strikes over workweek, PLI scheme

Indian bank unions representing over 90% of the workforce have announced a one-day strike on September 11, a three-day strike from September 28-30, and threatened an indefinite strike from October 26 over demands for a five-day week and changes to the PLI scheme. The strikes could disrupt banking operations and payment systems, posing operational risks to financial markets and economic activity. The escalation to an indefinite strike signals a significant labor dispute that may pressure the government and banks to negotiate.