Bank Strike Today : UFBU Secures Assurances from Finance Ministry

Bank Strike Today

The United Forum of Bank Unions (UFBU), representing over eight lakh bank employees, canceled a planned two-day nationwide strike on March 24-25, 2025, after receiving assurances from the Finance Ministry and Indian Banks’ Association (IBA). The strike, deferred following a meeting with the Chief Labour Commissioner, aimed to demand better recruitment, regularization of temporary staff, a five-day work week, job security, safety measures, and gratuity reforms. The resolution prevents a four-day disruption to banking services.

Two-Day Nationwide Bank Strike Deferred

The United Forum of Bank Unions (UFBU), representing over eight lakh bank employees, had initially planned a two-day nationwide bank strike today, on March 24 and 25, 2025. However, the strike was called off after the Finance Ministry and the Indian Banks’ Association (IBA) provided assurances regarding the unions’ demands. The Chief Labour Commissioner intervened, deferring the strike following a consultation meeting with all parties on Friday, as reported by PTI.

Why Did Banks Plan the Strike?

The UFBU announced the strike to push for significant changes in the banking sector. Key demands included improved recruitment practices, regularization of temporary employees, and the adoption of a five-day work week. Pankaj Kapoor, Vice President of the All India Bank Officers Confederation (AIBOC), had warned that banking services—such as cash transactions, remittances, and advances—would face disruptions for four days starting March 22, compounded by a bank holiday on March 23.

What Are the Banks Demanding?

The UFBU’s demands are wide-ranging:

• Adequate Recruitment and Regularization: Ensuring proper staffing at branches and permanent positions for temporary employees.
• Five-Day Work Week: A long-standing request to align banking with modern work practices.
• Job Security Concerns: Immediate withdrawal of the Department of Financial Services (DFS) directives on performance reviews and Performance-Linked Incentives (PLI) that threaten job stability.
• Safety Measures: Protection for bank staff against assaults and abuse from the public.
• Gratuity and Tax Reforms: Raising the gratuity ceiling to ₹25 lakh, mirroring government employee benefits, and exempting it from income tax.
• Policy Autonomy: Maintaining at least 51% government equity in IDBI Bank, ending micromanagement by DFS, and preserving bilateral agreements on service conditions.

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Bank Strike Today Averted: Next Steps

Bank Strike Today : With the Centre promising to deliberate on these demands, the UFBU has canceled the Bank strike scheduled for early next week. The resolution marks a significant step forward as the government and IBA address the concerns of bank employees, averting potential disruptions for customers.