<h1>Bank Unions Strike 18 Times in 3 Years Over Wage, Pension, and Reform Demands; Settlements Binding Under Industrial Disputes Act.</h1> Bank unions and associations have conducted eighteen strikes in public sector banks over the past three years, primarily demanding wage settlements, halting job outsourcing, stopping banking sector reforms, improving pension schemes, and providing compassionate appointments. The financial impact of these strikes has not been quantified. Settlements reached between the unions and the Indian Banks Association are binding under the Industrial Disputes Act, 1947, and must be implemented by all member banks, including SBI's associate banks. Conciliation meetings have been held to prevent further strikes, as reported by a government official in response to a parliamentary inquiry.