Bank Unions Announce Nationwide Strike on March 24-25 After Failed Talks With IBA

Related Articles

“Report: Samsung Considers Moving Manufacturing from Vietnam to India Due to US Tariff Threats”

2 days ago

Mukesh Ambani Condemns Pahalgam Terror Attack, Offers Free Treatment for Injured and Stands Against Terrorism

2 days ago

Tech Prodigy Lucy Guo Beats Taylor Swift as Youngest Self-Made Woman Billionaire

6 days ago

The United Forum of Bank Unions (UFBU) has announced a two-day nationwide strike on March 24 and 25 after discussions with the Indian Banks’ Association (IBA) failed to yield any positive outcome. The strike is being called over several key demands, including adequate recruitment across all cadres, regularisation of temporary employees, and implementing a five-day workweek in the banking industry.

Key Demands of the Bank Unions

According to news agency ANI, the UFBU, an umbrella body comprising nine bank employees’ associations, has been pushing for several issues, including:

• Adequate recruitment in all cadres and filling up vacancies in public sector banks.
• Regularisation of temporary employees and resolving residual matters with the IBA.
• Implementation of a five-day workweek in the banking industry.
• Filling up workmen and officer director posts in public sector banks.
• Amendment of the Gratuity Act to raise the ceiling to ₹25 lakh, aligning it with the scheme for government employees, and seeking exemption from income tax.

The unions have also sought the withdrawal of recent directives from the Department of Financial Services (DFS) regarding performance reviews and performance-linked incentives.

Concerns Over Government’s ‘Micro-Management’

The UFBU has opposed what it calls the “micro-management” of public sector banks by the DFS, arguing that such measures threaten job security and undermine the autonomy of bank boards.

The union forum comprises several major bank unions, including:

• All India Bank Employees Association (AIBEA)
• All India Bank Officers’ Confederation (AIBOC)
• National Confederation of Bank Employees (NCBE)
• All India Bank Officers’ Association (AIBOA)

With no resolution in sight following discussions with the IBA, bank unions have decided to go ahead with their strike plan, which may cause disruptions in banking operations across the country.

Sources By Agencies