Bank unions call for strike on March 24-25 as talks with IBA fail. Check details here

The United Forum of Bank Unions (UFBU) is firm on calling for a nationwide bank workers' strike on March 24 and 25 after discussions with the Indian Banks' Association (IBA) failed, newswire PTI reported.

The IBA failed to resolve key demands made by the union and as such, the strike, which was earlier threatened, is expected to go through, the PTI report added.

Two-Day UFBU Talks With IBA Fall Through

The union, an umbrella body for nine bank workers' unions, said on March 13th that its two-day discussions with the IBA had fallen through, as per the report.

The consolidated union comprises constituents such as the All India Bank Employees Association (AIBEA), All India Bank Officers’ Association (AIBOA), All India Bank Officers’ Confederation (AIBOC), and the National Confederation of Bank Employees (NCBE).

The strike was announced to press for their demands and will now continue as “key issues remain unsolved” L Chandrasekhar, the General Secretary of the NCBE told PTI.

UFBF's Nationwide Bank Strike: What Were The Demands?

The unions had in their meetings with the IBA raised key issues such as recruitment across cadres (workmen, officer and director posts) in public sector banks (PSBs), and a five-day work week.

Also among the demands is the withdrawal of the recent directives on performance reviews and performance-linked incentives issued by the Department of Financial Services (DFS). Unions alleged that such PLIs threatened job security and employee relationships.

They have also raised issues with the DFS's “micromanagement” of PSBs and claimed that such interventions “undermine the autonomy of the bank boards.”

Other demands include resolving residual issues with the IBA and amending the Gratuity Act to raise the ceiling to ₹25 lakh, aligning it with the scheme for government employees and seeking exemption from income tax.

Bank Holiday Schedule: Customers to Brace for Long Holiday?

Notably, March 22 is the fourth Saturday of the month and is, hence, a listed holiday for all public and private banks across the country by the Reserve Bank of India (RBI). This is followed by March 23, which is a Sunday and hence a national holiday for all bank employees.

With the bank workers' strike called next week, customers will now also have to brace for an “extended weekend”, as banks will be closed on Monday and Tuesday (March 24-25) as well. Please confirm the schedule with your nearest bank branch and plan in advance as per your requirements.

(With inputs from PTI)