Nationwide Banks to Shut for Two Days as Employees Protest: What You Need to Know
Banking services across India may face disruption on March 24-25 as the United Forum of Bank Unions (UFBU) has announced a two-day strike.
New Delhi: Banking services across India may face disruption on March 24-25 as the United Forum of Bank Unions (UFBU) has announced a two-day strike. The strike is in response to unresolved demands concerning recruitment, job security, and a five-day workweek. Customers have been advised to complete important banking transactions in advance to avoid inconvenience.
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Why Are Bank Employees Striking?
The UFBU, a collective of nine major bank unions, called for the strike after failing to reach a consensus with the Indian Banks’ Association (IBA) on key issues.
L. Chandrasekhar, General Secretary of the National Confederation of Bank Employees (NCBE), highlighted the major concerns that led to this protest:
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- More recruitment – Banks need additional workforce to reduce the burden on existing employees and improve efficiency.
- Filling vacant posts – Several critical positions, including workmen and officer directors in public sector banks, remain unfilled.
- Job security concerns – Employees are demanding the withdrawal of performance-based incentives and appraisals, claiming they create job insecurity.
- Reducing government control – Unions argue that excessive government interference limits the autonomy of bank boards.
- Enhanced gratuity benefits – Demand to increase the gratuity limit to ₹25 lakh and exempt it from income tax.
Additionally, bank unions oppose recent government decisions on performance-linked incentives and employee reviews, stating these measures cause stress and uncertainty among workers.
Who is Participating in the Strike?
The United Forum of Bank Unions (UFBU) represents the following nine major bank unions:
- All India Bank Employees Association (AIBEA)
- All India Bank Officers’ Confederation (AIBOC)
- National Confederation of Bank Employees (NCBE)
- All India Bank Officers’ Association (AIBOA)
- Bank Employees Federation of India (BEFI)
- Indian National Bank Employees Congress (INBEC)
- Indian National Bank Officers’ Congress (INBOC)
- National Organisation of Bank Workers (NOBW)
- National Organisation of Bank Officers (NOBO)
Possible Impact on Banking Services
With lakhs of bank employees set to participate, services such as cash withdrawals, cheque clearances, and loan processing may be disrupted across the country. Customers are advised to plan their financial transactions in advance.
What’s Next?
The strike could be called off if the IBA and UFBU reach a last-minute settlement. However, if demands remain unmet, banking operations will likely be hit on March 24-25.
