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The United Forum of Bank Unions declares nationwide strike on March 24 and 25 demanding a five-day work week for the banking sector, enhanced recruitment across all cadres, and regularisation of temporary employees.
UFBU, a coalition of nine bank unions, announced the decision on March 13 after negotiations with the Indian Banks’ Association (IBA) failed to yield a resolution on key concerns.
The United Forum of Bank Unions (UFBU) has declared a nationwide strike on March 24 and 25, demanding a five-day work week for the banking sector, enhanced recruitment across all cadres, and regularisation of temporary employees.
UFBU, a coalition of nine bank unions, announced the decision on March 13 after negotiations with the Indian Banks’ Association (IBA) failed to yield a resolution on key concerns.
Key Demands Behind the Strike
L Chandrasekhar, General Secretary of the National Confederation of Bank Employees (NCBE), outlined several pressing issues that remain unaddressed despite multiple discussions with the IBA:
Staff Shortages: Urgent recruitment across all cadres to manage workload efficiently.
Board Representation: Appointment of workmen and officer directors in public sector banks.
Job Security Concerns: Rollback of performance reviews and incentive policies introduced by the Ministry of Finance’s Department of Financial Services (DFS), which unions argue threaten employment stability.
Bank Autonomy: Opposition to what unions describe as “micro-management” by the DFS, asserting that excessive intervention weakens bank boards’ independence.
Gratuity Act Amendments: Proposal to increase the gratuity ceiling to ₹25 lakh, bringing it in line with government employees’ benefits, along with a demand for tax exemption on gratuity payments.
UFBU’s Stance on Government Policies
The unions have strongly opposed recent DFS directives on performance-linked incentives and reviews, arguing that they create job uncertainty and should be repealed.
Who Forms the UFBU?
The UFBU represents nine prominent bank employee 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)
Bank Employees Federation of India (BEFI)
Indian National Bank Employees Congress (INBEC)
Indian National Bank Officers’ Congress (INBOC)
National Organisation of Bank Workers (NOBW)
National Organisation of Bank Officers (NOBO)
With discussions failing to resolve these disputes, UFBU has confirmed that the strike will proceed as planned, potentially affecting banking operations nationwide.
(With Inputs from Agencies)
