Bank strike postponed! Two-day nationwide strike deferred after conciliation talks: PSBs, pvt banks open on THESE days

Bank Strike: The Banking union, the United Forum of Bank Unions (UFBU), on Friday, March 21, has decided to call off their two-day India-wide strike after receiving assurances from the Finance Ministry and the Indian Banks' Association (IBA) about their demands.

The Chief Labour Commissioner decided to defer the strike after calling all the parties for a consultation meeting on Friday, reported the news agency PTI.

As per the agency report, the Ministry of Finance and the IBA assured the union that they would deliberate on the demands raised by the workers, which prompted the cancelling of the early next week strike.

The UFBU is an organisation for bank employees from nine unions across the nation. UFBU initially called a nationwide strike on Monday, March 24 and Tuesday, March 25.

UFBU has members like the All India Bank Employees Association (AIBEA), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA), and Bank Employees' Confederation of India (BEFI).

As per the report citing the Chief Labour Commissioner, the next date for the hearing has been fixed on April 22, 2025, and also asked the IBA to submit a progress report on the Union demands.

Union Demands

1. The Union demanded sufficient recruitment in all job cadres across banks to provide adequate branch staffing and improve customer service in the industry.

2. They also seek to regularise all temporary employees working in the banking sector.

3. As per their demand, all banks should have a five-day work week, aligning with other sectors like the RBI, insurance companies, and the government.

4. The union also appealed to withdraw directives related to performance reviews and the Performance Linked Incentive (PLI) scheme, as these threaten job security, create divisions among employees, violate the Eighth Joint Note, and undermine the autonomy of Public Sector Banks (PSBs).

5. The demands also aim to bring safety to bank officers and staff against assaults and abuses by unruly public members.

6. Fill the vacant workmen/officer directors posts in Public Sector Banks.

7. Resolve pending issues with the Indian Banks' Association (IBA).

8. Amend the Gratuity Act to increase the ceiling to ₹25 lakh, making it similar to the government employees schemes, with exemption to income tax.

9. Top the outsourcing of permanent jobs within the banking sector.

10. Halt any unfair labour practices in the banking industry.

Bank Holiday

According to Reserve Bank of India (RBI) rules, banks will be closed on Saturday, March 22, as it is the fourth Saturday of the month, which is a designated banking holiday. The banks will also be closed, as usual, on Sunday, March 23, before reopening for the general public on Monday, March 24.

Indian banks will stay open on Monday, March 24, and Tuesday, March 25, as the workers union has deferred the strike.

(LiveMint couldn't independently verify the report.)