Let us inform you that banks may close for four days in a row in march if you also need to visit the bank for some critical work in the near future.
Actually, UFBU has called a statewide two-day bank strike on 24 and 25 march 2025.
Bank Strike: If you also have to go to the bank for some important work shortly, then let us tell you that banks can remain closed for 4 consecutive days in March. The United Forum of bank Unions (UFBU) has announced a nationwide two-day bank strike on 24 and 25 march 2025. At the same time, saturday and sunday will be listed as weekly bank holidays.
Actually, UFBU has called a statewide two-day bank strike on 24 and 25 march 2025.
Bank Strike: If you also have to go to the bank for some important work shortly, then let us tell you that banks can remain closed for 4 consecutive days in March. The United Forum of bank Unions (UFBU) has announced a nationwide two-day bank strike on 24 and 25 march 2025. At the same time, saturday and sunday will be listed as weekly bank holidays.
UFBU The main goals behind this strike are the regularization of temporary workers, enough hiring in all cadres, and the adoption of a five-day workweek in the banking industry. Nine significant bank unions make up UFBU, which represents over 8 lakh officials and workers in the public and commercial sectors as well as international, cooperative, and regional rural banks.
There will be no banking for four days.
Banking services would be impacted from march 22 to march 25 due to a bank strike on march 24–25, a bank working day on march 22, and a holiday on march 23, according to Pankaj Kapoor, vice president of the All india bank Officers Confederation (AIBOC). Clearinghouse, cash transactions, remittance, and advance services will all be impacted during this period.
Banking services would be impacted from march 22 to march 25 due to a bank strike on march 24–25, a bank working day on march 22, and a holiday on march 23, according to Pankaj Kapoor, vice president of the All india bank Officers Confederation (AIBOC). Clearinghouse, cash transactions, remittance, and advance services will all be impacted during this period.
What demands do bank unions have?
To improve customer service and prevent overwork for current employees, bank unions insist that all branches hire enough employees. In addition, there have been calls to regularize temporary workers, institute a five-day workweek, and discontinue the government's newly announced Performance review and Productivity Linked Incentive (PLI) program.
To improve customer service and prevent overwork for current employees, bank unions insist that all branches hire enough employees. In addition, there have been calls to regularize temporary workers, institute a five-day workweek, and discontinue the government's newly announced Performance review and Productivity Linked Incentive (PLI) program.
According to the union, these rules jeopardize job security, foster discrimination between officers and workers, and erode public sector banks' independence.
Demands also include settling outstanding concerns with the indian Banks Association (IBA), filling positions for workers and officer directors, guaranteeing the safety of bank officers and staff, and modifying the Gratuity Act to raise the maximum ceiling to Rs 25 lakh. The union has also called for the bank management to pay for employee welfare benefits rather than having income tax applied to them.
Demands also include settling outstanding concerns with the indian Banks Association (IBA), filling positions for workers and officer directors, guaranteeing the safety of bank officers and staff, and modifying the Gratuity Act to raise the maximum ceiling to Rs 25 lakh. The union has also called for the bank management to pay for employee welfare benefits rather than having income tax applied to them.
In a news statement, UFBU called on the government to prevent undue meddling by the Department of Financial services (DFS) in regulating the policies of public sector banks and to maintain the government's 51% ownership position in IDBI Bank. In addition, there is a need to halt unfair labor practices and the outsourcing of permanent positions in the banking industry.
Request for a five-day workweek
According to UFBU, the RBI, insurance firms, and other financial organizations already operate on a five-day workweek. Many private sector businesses and the majority of government agencies use the same method. A five-day workweek was also suggested by indian banks to the government, although no decision has been made as of yet. Bank unions are pleading for this demand to be implemented as quickly as possible.
According to UFBU, the RBI, insurance firms, and other financial organizations already operate on a five-day workweek. Many private sector businesses and the majority of government agencies use the same method. A five-day workweek was also suggested by indian banks to the government, although no decision has been made as of yet. Bank unions are pleading for this demand to be implemented as quickly as possible.
When UFBU's demands could not be met through negotiations with the government and bank management, they were forced to go on strike. From midnight on march 23 to midnight on march 25, banks will go on strike. According to UFBU General Secretary Rupam Roy, the government's and management's carelessness has made this strike unavoidable. In light of the strike's inconvenience, he urged the people to cooperate and show solidarity.