The United Forum of Bank Unions (UFBU), representing over eight lakh bank employees across nine unions in India, has deferred its planned two-day nationwide strike after a meeting with the chief labour commissioner and government representatives. The strike, initially scheduled from March 23 to March 25, was called off following assurances from the Centre to address the concerns raised by bank employees.
As a result, banks will operate as usual today, March 24, with no disruptions to banking services.
Strike Deferred After Government Intervention
The UFBU had earlier announced the strike to push for major banking sector reforms aimed at improving employee conditions. However, after negotiations on Friday, March 22, the Centre assured that it would review the demands, leading to the cancellation of the strike scheduled for Monday. No new strike date has been announced yet.
Demands Raised by Bank Unions
The UFBU had outlined several key demands, including:
🔹 Five-day work week – The union argued that financial institutions such as RBI and insurance companies already operate on a five-day schedule, and banks should follow suit.
🔹 Adequate staffing and job regularization – The unions demanded proper recruitment across all cadres to ensure adequate staffing and called for regularization of temporary employees.
🔹 Protection from abuse and assault – Bank staff urged authorities to take steps to ensure employees are treated respectfully and safeguarded from verbal and physical abuse by customers.
🔹 Gratuity Act amendment – The UFBU called for an increase in the gratuity ceiling to ₹25 lakh and exemption from income tax on staff welfare benefits.
🔹 Withdrawal of performance review directives – The unions opposed recent government directives on performance-linked incentives (PLI) and job reviews, citing concerns over job security.
🔹 End to outsourcing and unfair labour practices – The UFBU demanded that the government halt outsourcing of permanent jobs and put an end to exploitative labour practices in the banking industry.
Banking Services Resume as Normal
Pankaj Kapoor, Vice President of the All India Bank Officers Confederation (AIBOC), had earlier warned of a four-day banking disruption due to the planned strike and preceding bank holidays. With the strike now called off, all banking operations, including cash transactions, remittances, and clearing house functions, will proceed as usual.
While the government has promised to review the demands, no official confirmation has been made on policy changes yet. Further updates from both the government and banking unions are expected in the coming days.
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