MUMBAI, Oct. 17 (UPI) -- The Reserve Bank of India said that a strike planned by bank staff for Tuesday would not interfere with the bank's business.
Having been warned in advance, commercial banks could borrow ahead of time to make provisions for the strike, an RBI official said, the Financial Times reported Friday.
Bank Governor Duvvuri Subbarao meet with union officials Friday to try to resolve their differences. Staff have planned for a "day of casual leave" Tuesday to protest what members feel are outdated wage reviews and pensions plans, the Times reported.
The walkout is expected to bring the country's emergency measures to restore liquidity in the financial system to a halt, the Times reported.
With bank systems reeling from the financial crisis, the timing of the strike, "is a little funny," Aditya Narain, the head of research at Citigroup's India office said.
"But, it's not the operator going on strike, it's the clerks striking," Narain said.
