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Banking services across the country are expected to be affected next week as the United Forum of Bank Unions (UFBU) has announced a nationwide two-day strike. The UFBU decided to proceed with the scheduled strike after discussions with the Indian Banks’ Association (IBA) failed to yield a positive outcome regarding key demands.
Banking Services to Be Disrupted on These Days
The United Forum of Bank Unions, which comprises nine bank unions representing over eight lakh employees and officers from public sector banks, private banks, foreign banks, cooperative banks, and regional rural banks, has called for a strike on March 24 and 25.
Will SBI, PNB, and Other Banks Be Affected?
While major banks like SBI and PNB have not issued official statements regarding the strike, news agency ANI reported that the strike is expected to impact public sector, private sector, and regional rural banks.
“Banking services will be interrupted for four days, starting from March 22. March 23 is a bank holiday, followed by the strike on March 24 and 25. As a result, essential banking services such as clearing house operations, cash transactions, remittances, and loan advances will be affected for four consecutive days,” Pankaj Kapoor, Vice President of the All India Bank Officers Confederation (AIBOC), told ANI.
Key Demands of the UFBU Strike
The UFBU has listed the following demands as reasons for the strike:
- Adequate recruitment across all cadres.
- Regularization of temporary employees.
- Implementation of a five-day workweek in the banking sector.
- Immediate withdrawal of recent DFS/Government directives on performance reviews and the PLI scheme.
- Enhanced security measures to protect bank officers and staff from assaults and abuse by unruly customers.
- Filling vacant workmen and officer director posts in public sector banks.
- Resolution of pending residual issues with the IBA.
- Amendment of the Gratuity Act to increase the ceiling to ₹25 lakhs, aligning with government employee schemes, and granting income tax exemption.
- Maintaining at least 51% government equity in IDBI Bank.
- Ending micromanagement of PSBs by the DFS on policy matters affecting employees and officers.
- Stopping the outsourcing of permanent jobs and eliminating unfair labor practices in the banking industry.
With the upcoming holidays and the planned strike, customers are advised to complete any urgent banking transactions before March 22 to avoid inconvenience.
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