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Bank Strike Alert: The banks have gone under closure as the demands from The United Forum of Bank Unions (UFBU) go unheard. The United Forum of Bank Unions (UFBU) has been pressing for demands that are not being fulfilled. One of these demands is the implementation of a 5-day work week in the banking industry.
This has caused chaos as the banks have collectively decided to go on strike for two days, March 24 and March 25. This decision came after discussions with the Indian Banks’ Association (IBA) over key demands failed to yield any positive outcome.
After all the chaos, the union decided to postpone the strike after receiving positive assurance from both the Finance Ministry and the IBA on their demands.
What is UFBU?
The United Forum of Bank Unions (UFBU) is an umbrella organization that represents nine bank employees’ associations. It aims to address the collective concerns and demands of bank employees across India. UFBU advocates for better working conditions, improved wages, and other labor-related issues within the banking sector.
The Banks That Are Involved Are-
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All India Bank Employees’ Association (AIBEA)
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All India Bank Officers’ Confederation (AIBOC)
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Bank Employees Federation of India (BEFI)
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Indian National Bank Employees’ Federation (INBEF)
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Indian National Bank Officers’ Congress (INBOC)
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National Organisation of Bank Workers (NOBW)
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National Organisation of Bank Officers (NOBO)
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All India Bank Officers’ Association (AIBOA)
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Bank of Baroda Officers’ Association (BOBOA)
Strike By UBFU Postponed: But What Are The Demands of Bank Union?
- Adequate recruitment in all cadres
- Regularise all temporary employees
- Implementation of 5-day work per week in the banking industry
- Immediate withdrawal of the recent DFS/Govt directives on performance review and PLI
- Ensure the safety of bank officers and staff against assault or abuse by unruly public
- Fill up the posts of workmen and officer directors in PSBs
- Resolution of residual issues pending with IBA
- Amend Gratuity Act to increase the ceiling to Rs 25 lakhs on the lines of the Scheme for Government employees along with exemption from income tax
- Maintain a minimum of 51 per cent of equity capital in IDBI Bank by Government
- Stop micromanagement of PSBs by DFS on policy matters affecting service conditions of employees and officers and undermining bilateralism
- Stop outsourcing permanent jobs in banks and stop unfair labour practices in the banking industry
The United Forum of Bank Unions (UFBU) called for a bank strike, but before it could proceed, a conciliation meeting was held by the Chief Labour Commissioner. After discussions with the Indian Banks’ Association (IBA) and positive assurances from the Finance Ministry, the strike was deferred, allowing for further negotiations. So, This means all the bank related services will be available for customers on these two days, i.e. March 24 and March 25.
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