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Amid growing concerns among customers, it's been confirmed that banks across India are open today, March 24, and banking services are fully operational. The two-day nationwide bank strike, initially planned for March 24 and 25, has been postponed following positive assurances from the Finance Ministry and Indian Banks’ Association (IBA).
Strike Postponed After Talks with Government and IBA
The strike call was issued by the United Forum of Bank Unions (UFBU), a coalition of nine major bank employees’ associations including AIBEA, AIBOC, NCBE, AIBOA, and BEFI. Their demands include:
- Implementation of a five-day work week
- Adequate recruitment across all bank cadres
- Withdrawal of performance-linked incentive (PLI) directives by the Department of Financial Services (DFS)
The IBA has assured further discussions on critical issues like recruitment, PLI, and job security.
Chief Labor Commissioner Sets April 22 as Next Hearing Date
The All India Bank Employees Association (AIBEA) shared that the Chief Labor Commissioner has taken note of the demands and will directly monitor the implementation of the five-day banking week. The next hearing is scheduled for April 22, by which the IBA is expected to submit a progress report.
Other Pending Demands Include Gratuity and Tax Reforms
Bank unions have also sought amendments to the Gratuity Act, proposing the gratuity limit be raised to ₹25 lakh, similar to central government employee schemes. Additionally, they seek income tax exemptions on this amount.
For now, banking operations remain unaffected, and customers can carry out all transactions as usual.
