United Forum of Bank Unions (UFBU) has asked for a two-day all-India strike on March 24 and 25, 2025, to demand several issues such as improved recruitment procedures, temporary employee regularisation, and adoption of the five-day week system in banks.
The UFBU is an umbrella federation of nine bank unions representing over eight lakh officers and employees from public sector banks, private banks, foreign banks, regional rural banks, and cooperative banks. The nationwide proposed strike can potentially severely handicap banking services everywhere.
The Vice President of All India Bank Officers Confederation, Pankaj Kapoor, emphasised that there would be disturbance in banking services for four running days. "Banking services will be interrupted for four days starting from March 22, March 23 is a bank holiday, and 24-25 March is a strike. Due to this, banking services like clearing house, cash transactions, remittances, and advances will be affected for four days starting from March 22," he informed ANI. Consequently, core services like cash transactions, cheque clearing, remittances, and loan processing are likely to be delayed.
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Key Demands
The main demands of the union are proper recruitment at all levels to fill staff shortages and achieve effective customer service. They also have demanded the regularisation of contractual workers who have been serving in banks for years without job security.
One major demand is the implementation of a five-day week in banks. The UFBU contends that insurance companies, the Reserve Bank of India, and other government offices already work on a five-day week. "Even in many private sectors including IT, it is five days working in a week. Hence, we demanded five days working per week in banks also. Indian banks agreed to the same and recommended it to the government one year ago but still, the issue is pending with the government. Hence, we are demanding implementation of five days working in banks without any further delay," the UFBU release said. The forum pointed out that Indian banks had already suggested this shift to the government a year ago, but it had not been followed up.
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The unions are also showing their opposition to recent instructions from the Department of Financial Services (DFS) relating to performance reviews and incentive frameworks. In accordance with the UFBU, such steps have the potential to segregate employees and erode the independence of public sector banks. The unions requested an immediate reversal of these orders, expressing their fears about the security of employment.
Some of the other demands are enhanced safety for bank employees from harassment or assault by aggressive customers, filling up empty positions for workmen and officer directors in public sector banks, and settling outstanding matters with the Indian Banks' Association (IBA). The unions have also demanded changes in the Gratuity Act, where they want the ceiling raised to 25 lakh rupees so that it can be brought to par with government employee benefits. Furthermore, they have called on the government to exempt staff welfare benefits from taxation.
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Opposition to IDBI Bank Equity Sale and Outsourcing
The UFBU has been against the government's proposal to bring down its holding in IDBI Bank below 51 per cent, contending that this would dilute public sector control over the bank. They have also called for an end to the outsourcing of permanent banking employment and the stoppage of unfair labour practices in the banking industry.
The UFBU opined that proper recruitment must be provided to minimise the burden on the existing staff and enhance the quality of customer service. The forum emphasised that recurring shortages of staff have resulted in the imposition of extra burden on existing employees, which has an effect on their efficiency and health.
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Impact on Banking Services
With the strike planned along with two days off, customers can expect disruption in multiple services. Experts recommend making vital transactions before March 22 to avoid inconvenience. Online banking and ATMs are likely to be operational, although services involving branch intervention can be delayed.The UFBU claimed that despite repeated efforts to hold discussions, their issues have not been settled.
Rupam Roy, General Secretary of the UFBU, said that since the government and the management have not stepped forward to resolve these matters, the agitation and strike have been imposed upon them. The forum appealed to the public to realise their issues and asked for their support during the strike time.As the banking industry awaits the oncoming strike, both clients and workers wait for updates on the issue.
