Banking services to be affected from March 22 to 25 as union calls for nationwide strike

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The United Forum of Bank Unions (UFBU) has called for a nationwide two-day strike on March 24 and 25, demanding better recruitment across all cadres, regularisation of temporary employees, and the implementation of a five-day workweek in the banking sector.

UFBU is a collective that includes nine bank unions representing more than eight lakh employees and officers in public sector banks, private sector banks, foreign banks, co-op banks and regional rural banks.

Pankaj Kapoor, VP, All India Bank Officers Confederation (AIBOC) told ANI, "Banking services will be interrupted for four days starting from March 22, and March 23 is a bank holiday, and 24-25 March is a strike. Due to this, banking services like clearing house, cash transactions, remittances, and advances will be affected for four days starting from March 22."

The demands include adequate recruitment in all cadres, regularise all temporary employees, implementation of a five-day work week, immediate withdrawal of the recent DFS/government directives on performance review and PLI, which threaten job security, create division and discrimination amongst employees and officers, violate the Eighth Joint Note, and undermine Public Sector Bank's (PSB) autonomy; safety of bank officers/staff against the assault/abuses by unruly banking public; filling up the post of workmen/officer directors in PSBs; resolution of residual issues pending with IBA; amending Gratuity Act to increase the ceiling to Rs 25 lakh on the lines of scheme for government employees along with exemption from income tax.

The demand said: "Do not recover income tax on staff welfare benefits given to employees and officers on concessional terms."

Management to bear the same, a statement by the union said.

Other demands include maintaining a minimum of 51 per cent of Equity Capital in IDBI Bank by the government, stopping Micromanagement of PSBs by DFS on policy matters affecting service conditions of employees and officers and undermining bilateralism.

Other demands listed are stopping outsourcing permanent jobs in banks and stopping unfair labour practices in the banking industry.

In a press release issued by the UFBU, they demanded adequate recruitment should be made to provide sufficient staff in all Branches to extend satisfactory customer services and to reduce the undue workload on the existing staff.

In the entire financial sector including RBI, insurance companies, etc, they follow a days' work week. In the government too, it is five days working.

"Even in many private sectors including IT, it is five days working in a week. Hence, we demanded five days working per week in banks also. Indian banks agreed to the same and recommended it to the government one year ago but still, the issue is pending with the government. Hence, we are demanding implementation of five days working in banks without any further delay," the release stated.

Other demands include immediate withdrawal of the recent unilateral instructions of the government on the monthly review of the efficiency of staff and modifications in the incentive scheme without any discussions with the unions.

To press the above demands and seek an amicable resolution of the same, United Forum of Bank Unions has given the call for an All India Bank strike for two days from midnight of March 23 to midnight of March 25, 2025.

"Since the management or the government are not coming forward to settle these issues, the agitation and strike have been forced on us. We seek the support of the people for our strike and request them to bear with us for any inconvenience caused to them," said the release signed by Rupam Roy, General Secretary of the UFBU.

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