The United Forum of Bank Unions Calls for a Two-Day Strike on March 24-25

The United Forum of Bank Unions (UFBU) has called for a nationwide two-day strike on March 24-25, 2024, to push for multiple demands, including adequate recruitment, job security, regularization of temporary employees, and a five-day work week in banks. According to reports from ANI, the strike is expected to impact banking services across the country.

The UFBU is a coalition of nine major bank unions:

• AIBEA (All India Bank Employees' Association)
• AIBOC (All India Bank Officers' Confederation)
• NCBE (National Confederation of Bank Employees)
• AIBOA (All India Bank Officers' Association)
• BEFI (Bank Employees Federation of India)
• INBEF (Indian National Bank Employees Federation)
• INBOC (Indian National Bank Officers Congress)
• NOBW (National Organization of Bank Workers)
• NOBO (National Organization of Bank Officers)

Key Demands of the Bank Unions

The bank unions have put forward several demands aimed at improving working conditions and protecting employees' rights in the banking sector. Their main demands include:

• Adequate recruitment across all cadres to address workforce shortages.
• Regularization of temporary employees to provide job security.
• Implementation of a five-day work week in the banking sector.
• Protection of job security for all bank employees.
• Reversal of DFS (Department of Financial Services) instructions on performance reviews.
• Withdrawal of DFS directive on Performance Linked Incentives (PLI).
• Improved workplace safety for bank officers and employees.
• Strict actions against assault and abuse of bank staff.
• Filling up of employee/officer director posts in public sector banks.
• Resolution of pending disputes with the Indian Banks Association (IBA).
• Increase in gratuity limit to ₹25 lakh and making it tax-free, ensuring parity with government employees.
• Elimination of unfair taxes on employee welfare; concessional benefits should not attract income tax, and management should bear the cost.
• Retention of 51% government equity in IDBI Bank to safeguard national interests.

What the Bank Unions Oppose

In addition to their demands, the UFBU strongly opposes certain policies affecting the banking sector, including:

• Micro-management of public sector banks (PSBs) by the DFS, which impacts employees' service conditions and reduces bilateral decision-making.
• Outsourcing of permanent banking jobs, which threatens job security.
• Unfair labor practices in the banking industry.

Impact of the Strike on Banking Services

With lakhs of bank employees across the country expected to participate, the strike is likely to disrupt normal banking operations on March 24 and 25. Customers who have important banking transactions scheduled for these dates are advised to complete them in advance to avoid inconvenience.