Bank Strike: If you also have to go to the bank for some important work in the near future, then let us tell you that the banks can remain closed for 4 consecutive days in March. Actually, UFBU has announced a nationwide two-day bank strike on 24 and 25 March 2025.
Bank Strike: If you also have to go to the bank for some important work in the near future, then let us tell you that the banks can remain closed for 4 consecutive days in March. Actually, United Forum of Bank Unions (UFBU) has announced a nationwide two-day bank strike on 24 and 25 March 2025. At the same time, there is going to be a weekly holiday in banks on Saturday and Sunday.
Why was the strike announced?
This strike by UFBU is being done over major demands like adequate recruitment in all cadres, regularization of temporary employees, and implementation of five-day work week in the banking sector. UFBU comprises nine major bank unions, representing more than eight lakh employees and officers of public sector, private sector, foreign banks, cooperative banks and regional rural banks.
Banks will remain closed for four days
Pankaj Kapoor, Vice President of All India Bank Officers Confederation (AIBOC), said that banking services will be affected from March 22 to March 25, as March 22 will be a bank working day, March 23 will be a holiday and there will be a bank strike on March 24-25. During this time, clearing house, cash transactions, remittance and advance services will be affected.
What are the demands of bank unions?
Bank unions demand that adequate staff be appointed in all branches, so that customers can get better service and the existing staff does not have excessive workload. Apart from this, there has been a demand to regularize temporary employees, implement a five-day work week, and withdraw the Performance Review and Productivity Linked Incentive (PLI) scheme recently released by the government. The union says that these policies threaten job security, create discrimination between employees and officers, and undermine the autonomy of public sector banks.
In addition, demands include ensuring the safety of bank officers and employees, filling the posts of workers and officer directors, resolving pending issues with the Indian Banks Association (IBA), and amending the Gratuity Act to increase the maximum limit to Rs 25 lakh. The union has also demanded that income tax should not be levied on staff welfare benefits given to employees and the bank management should bear it.
In its press release, UFBU has demanded from the government that the government’s stake in IDBI Bank should not be reduced to less than 51% and excessive interference of the Department of Financial Services (DFS) in controlling the policies of public sector banks should be stopped. Apart from this, there is also a demand to stop outsourcing of permanent jobs in the banking sector and end unfair labor practices.
Demand for 5 day working
UFBU says that a five-day working week is already in force in RBI, insurance companies and other financial institutions. The same system is in place in most government departments and many private sector companies. Indian banks also recommended a five-day working week to the government, but a decision has not been taken on it yet. Therefore, bank unions are appealing to implement this demand soon.
UFBU tried to negotiate with the government and bank management regarding their demands, but when no solution was found, they had to resort to strike. There will be a strike in banks from midnight of March 23 to midnight of March 25. UFBU General Secretary Rupam Roy said that this strike has become inevitable due to the negligence of the government and management. He appealed to the general public for cooperation and support for the inconvenience caused by the strike.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
