Bank Strike Update: Are banks open or closed today, March 24? Here’s all you need to know

The United Forum of Bank Unions (UFBU), which represents over eight lakh bank employees across nine unions in India, has deferred its two-day nationwide strike that was slated to commence today (Monday) after receiving assurances from the finance ministry and the Indian Banks' Association (IBA).

The strike, originally scheduled for March 24 and 25, was called off following a consultation with the chief labour commissioner on Friday, according to news agency PTI.

Representatives from the IBA and the finance ministry assured the unions that their demands, including a five-day workweek and increased recruitment, would be considered. The chief labour commissioner also stated that he would personally monitor the progress, setting April 22 as the next hearing date to review updates on the issues raised by the UFBU.

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Also Read: Fact Check: Has RBI approved 5-day working in banks from April 1? Know what government says

Are banks open today?

Yes, banks across the country are functioning normally today after the strike was called off. The UFBU’s decision to defer the strike came after government representatives and the IBA agreed to deliberate on their key concerns. Had the strike gone ahead, banking operations would have been severely impacted across the nation.

What are UFBU's demands?

• A five-day workweek – Bank employees are pushing for a uniform five-day work schedule across all public sector banks.
• More hiring at all levels – The unions want adequate recruitment, including workmen, officers, and even directors, to tackle staff shortages.
• Stronger protections for employees – They’re demanding stricter laws to prevent attacks on bank staff.
• Better pension choices – The UFBU wants every bank to implement the National Pension System (NPS) active-choice fund.
• A healthier work-life balance – Employees are calling for measures to reduce workload stress and improve work-life balance.

Also Read: Government considers raising deposit limit for payment banks, reviews financial inclusion roadmap

Opposition to performance reviews & PLI rules

The unions are also pushing back against new performance review and PLI (Performance Linked Incentive) directives from the Department of Financial Services (DFS). They argue these policies could put job security and workplace stability at risk.

(With inputs from agencies)