Mumbai, March 18: The United Forum of Bank Unions (UFBU) has reaffirmed its decision to hold a nationwide bank workers' strike on March 24 and 25, following unsuccessful negotiations with the Indian Banks' Association (IBA). Despite multiple discussions, the IBA was unable to address the key concerns raised by the union, prompting UFBU to move forward with the planned strike. The strike is expected to disrupt banking services across the country.

The United Forum of Bank Unions (UFBU), which represents nine bank employees' associations, had earlier declared the strike to push for various demands, including the appointment of workmen and officer directors in public sector banks. Additionally, the unions have called for the withdrawal of recent directives issued by the Department of Financial Services (DFS) regarding performance reviews and performance-linked incentives, arguing that these measures jeopardize job security and create an unfair work environment for employees. Bank Strike in India Date: Banking Services To Be Affected From March 22 to 25 As Union Calls for Nationwide Strike, Know Their Demands Here.

What Are The Demands?

 

  • Recruitment for workmen, officer, and director posts in public sector banks.

  • Implementation of a five-day work week.

  • Withdrawal of recent performance review guidelines and performance-linked incentives issued by the Department of Financial Services.

  • Concerns over performance-linked incentives affecting job security and employee relations.

  • Opposition to the Department of Financial Services' micromanagement of public sector banks, citing threats to board autonomy.

  • Resolution of residual issues with the Indian Banks' Association (IBA).

  • Amendment of the Gratuity Act to raise the ceiling to INR 25 lakh, aligning it with the scheme for government employees.

  • Exemption of gratuity from income tax.

Banks across the country will remain closed on March 22, as it falls on the fourth Saturday, which is a designated holiday for both public and private banks per RBI guidelines. This will be followed by a nationwide bank holiday on March 23, which is a Sunday. Reserve Bank of India Awarded Digital Transformation Award 2025 by London's Central Banking.

With the upcoming bank workers' strike scheduled for March 24 and 25, customers should be prepared for an extended weekend. Banking services will remain unavailable for four consecutive days. It is advisable to check with your local bank branch and plan transactions accordingly.

 

(The above story first appeared on LatestLY on Mar 18, 2025 01:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).