Bank Union Forum Calls For Nationwide Strike On March 24-25 After Discussions With IBA Fail

The United Forum of Bank Unions (UFBU) has called for a nationwide strike on March 24 and 25, following its discussions with the Indian Banks' Association (IBA) failed to yield a positive outcome. The strike aims to highlight key demands related to staffing, job security, and working conditions in the banking sector.

To pressurize the government regarding their demands and seek an amicable resolution, the two-day strike will begin from midnight of March 23 to midnight of March 25, 2025.

Key Demands Of The Union

• Recruitment in all cadres to address staff shortages and reduce work burden.
• Regularization of all temporary employees to provide job security and fair wages.
• Implementation of a five-day work week to improve work-life balance.
• Filling of workmen and officer director posts in public sector banks to ensure adequate representation.
• Withdrawal of performance review and incentive directives issued by the Ministry of Finance's Department of Financial Services (DFS), which unions claim threaten job security, create division and discrimination among employees and officers, and violate the 8th Joint Note.
• Opposition to "micro-management" of public sector banks by the DFS, arguing that excessive intervention undermines the autonomy of bank boards and affects operational efficiency.
• Amendments to the Gratuity Act, seeking an increase in the ceiling to Rs 25 lakh, aligning it with government employees' benefits.
• Exemption of gratuity from income tax to provide financial relief to employees.
• Safety of bank officers and staff against assault and abuse by unruly customers, calling for stricter security measures.
• Resolution of residuary issues with IBA to address pending concerns of employees.
• Stopping outsourcing of permanent jobs in banks, protecting employment opportunities for bank staff.
• Ending unfair labour practices in the banking sector.

"Since the management or the government are not coming forward to settle these issues, the agitation and strike has been forced upon us. We seek the support of the people for our strike and request them to bear with us for any inconvenience caused to them," stated a press release by UFBU.

What Is UFBU?

The UFBU is an umbrella body representing nine bank employee unions:

• All India Bank Employees Association (AIBEA)
• All India Bank Officers' Confederation (AIBOC)
• National Confederation of Bank Employees (NCBE)
• Bank Employees Federation of India (BEFI)
• Indian National Bank Employees Congress (INBEC)
• Indian National Bank Officers' Congress (INBOC)
• National Organisation of Bank Workers (NOBW)
• National Organisation of Bank Officers (NOBO)
• All India Bank Officers' Association (AIBOA)

Collectively, these unions represent over eight lakhs of bank employees across the country.

Banking Services To Be Affected From March 22-25

As March 22 is the fourth Saturday and March 23 is Sunday, banks will remain closed from March 22 to 25, potentially disrupting banking services for four consecutive days.

The banking sector is likely to face disruptions during this period, affecting cash transaction, remittances, cheque clearances, and loan processing. While digital banking and ATMs may provide some relief, customers are advised to complete their banking transactions in advance to avoid inconvenience.