Nationwide Bank Strike on March 24-25: Unions Protest After Failed Talks with IBA
Nationwide Bank Strike on March 24-25: Unions Protest After Failed Talks with IBA
The United Forum of Bank Unions (UFBU) has confirmed a two-day nationwide bank strike on March 24 and 25, 2025, following unsuccessful negotiations with the Indian Banks Association (IBA). The strike is set to impact banking operations across the country as unions push for key demands.
Bank Unions Demand Key Reforms
During discussions with the IBA, UFBU representatives raised concerns regarding recruitment across all levels, the implementation of a five-day workweek, and the need for reforms in public sector banks. However, these demands remain unresolved, according to L. Chandrasekhar, general secretary of the National Confederation of Bank Employees (NCBE).
Opposition to DFS Policies
The UFBU, comprising nine major banking unions, has expressed strong opposition to what it calls “micromanagement” of public sector banks by the Department of Financial Services (DFS). The unions argue that such interference could undermine the autonomy of bank boards and impact employee job security.
Additionally, UFBU is demanding the rollback of recent DFS guidelines on performance evaluations and performance-based incentives, stating that these policies could negatively affect job stability.
Additional Demands from Banking Unions
The UFBU is also pushing for amendments to the Gratuity Act to raise the gratuity limit to Rs. 25 lakh, bringing it in line with the Government Employees Scheme. Furthermore, unions are requesting an exemption from income tax for gratuity payouts.
UFBU’s Major Constituents
The UFBU is an umbrella organization representing several key banking 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)
With the strike now confirmed, customers are advised to plan their banking transactions in advance to avoid inconvenience on March 24 and 25, 2025. The UFBU remains firm on its demands and has signaled that further protests may be on the horizon if issues remain unaddressed.
