Bank Strike: Banking services to be disrupted for 4 days starting March 22?

Banking operations across India are set to be affected for four days as the United Forum of Bank Unions (UFBU) has called for a nationwide strike on March 24 and 25. With March 23 being a bank holiday, services will see a prolonged disruption starting from March 22.

Pankaj Kapoor, VP, All India Bank Officers Confederation (AIBOC) told ANI, "Banking services will be interrupted for four days starting from March 22, and March 23 is bank holiday, and 24-25 March is strike. Due to this, banking services like clearing house, cash transaction, remittances, advances will be affected for four days starting from March 22."

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What are bank unions demanding?

- More recruitment to address staff shortages.
- Permanent positions for temporary employees.
- A five-day work week, similar to RBI and insurance sector norms.
- Reversal of recent government directives on performance reviews and productivity-linked incentives, which unions argue threaten job security and public sector bank autonomy.
- Protection for bank employees from verbal and physical abuse by customers.
- Appointment of workmen and officer directors in public sector banks (PSBs).
- Resolution of pending issues with the Indian Banks' Association (IBA).
- An increase in the gratuity ceiling to Rs 25 lakh, in line with government employees' benefits.
- Exemption of income tax on staff welfare benefits.
- Government retention of at least 51 per cent equity in IDBI Bank.
- An end to outsourcing of permanent jobs and unfair labour practices in banks.
- Stopping excessive intervention in public sector banks’ policies by the Department of Financial Services (DFS).

The UFBU pointed out that most financial institutions, including RBI and insurance companies, follow a five-day work week, and banks had already recommended this change to the government a year ago. However, no action has been taken yet. "Even in many private sectors including IT, it is five days working in a week. Hence, we demanded five days working per week in banks also. Indian banks agreed to the same and recommended to the government one year ago but still, the issue is pending with the government. Hence, we are demanding implementation of five days working in banks without any further delay," the release stated.

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The strike reportedly has been called after repeated failed discussions with the central government and bank management.

"Since the management or the government are not coming forward to settle these issues, the agitation and strike has been forced on us. We seek the support of the people for our strike and request them to bear with us for any inconvenience caused to them," said the release signed by Rupam Roy, General Secretary of the UFBU.