Indian Banks Association

Timelines
Banks go on a strike: Which services would be affected?

31 Jan 2020

Banks go on a strike: Which services would be affected?

Across India, banking services are expected to be impacted greatly this weekend as bank unions go on strike from today (January 31, 2020).

Bank unions announce nationwide strike on Jan 31, Feb 1

15 Jan 2020

Bank unions announce nationwide strike on Jan 31, Feb 1

Bank employee unions on Wednesday announced a two-day nationwide strike starting January 31.

PNB Fraud Fallout: RBI discontinues LoUs/LoCs issuance for trade credits

13 Mar 2018

PNB Fraud Fallout: RBI discontinues LoUs/LoCs issuance for trade credits

Learning from the multi-crore PNB scam, involving jewelers Nirav Modi and Mehul Choksi, the Reserve Bank of India has decided to discontinue issuance of LoUs (letters of undertaking) and LoCs (letters of comfort) as trade credits for imports into the country.

RBI to banks: Link SWIFT, Core Banking Solution by April

25 Feb 2018

RBI to banks: Link SWIFT, Core Banking Solution by April

The Reserve Bank of India (RBI) has set April 30 as the deadline for banks to integrate SWIFT (Society for Worldwide Interbank Financial Telecommunication) with Core Banking Solutions (CBS), as it looks to strengthen internal controls after the PNB fraud case.

Bank strike paralyses operations across the country

01 Mar 2017

Bank strike paralyses operations across the country

Operations were severely hit as public sector banks remained shut and ATMs went dry during the one-day strike by United Forum of Bank Unions. Private banks functioned as usual.

Government banks on strike today, wage hike among other demands

28 Feb 2017

Government banks on strike today, wage hike among other demands

Nine bank unions today held a day-long protest over several demands, including wage revision and accountability of top executives, in view of mounting bad loans in the banking sector.