Bank Holidays on March 24 and 25: Strike Postponed, Banks to Remain Open
22 Mar, 2025 13:47 IST|Sakshi Post
Bank Unions Postpone Strike After Positive Talks on Five-Day Work Week
In a major relief to the banking sector ahead of the financial year-end, the United Forum of Bank Unions (UFBU) has decided to postpone its proposed strike scheduled for March 24 and 25, 2025. This decision comes after positive discussions on key demands, including the implementation of a five-day work week.
The All India Bank Employees Association (AIBEA), a key member of the UFBU, confirmed the development in a statement. The decision followed a conciliation meeting held earlier today under the supervision of the Central Labour Commissioner (CLC). The meeting saw participation from representatives of the Indian Banks’ Association (IBA), the Department of Financial Services (DFS) under the Union Ministry of Finance, and other stakeholders.
During the meeting, the joint secretary of the DFS joined via video call and shared insights on discussions between the Finance Minister and DFS officials regarding the five-day banking proposal. The IBA also agreed to further deliberations on crucial issues such as recruitment, performance-linked incentives (PLI), and other concerns raised by the unions.
The meeting has been adjourned to the third week of April for further dialogue. Given the positive progress, the UFBU felt it appropriate to defer the strike for at least a month. "Our strike on March 24 and 25 stands postponed," AIBEA confirmed in its statement.
The CLC also assured that he would personally oversee the resolution of key issues, including the five-day banking implementation.
The UFBU, an umbrella body of nine major bank unions, represents organizations such as AIBEA, the All India Bank Officers’ Association (AIBOA), the All India Bank Officers’ Confederation (AIBOC), and the National Confederation of Bank Employees (NCBE).
Among the UFBU’s primary demands for public sector banks (PSBs) are:
- Adequate recruitment at all levels, including workmen and officers.
- Stronger laws to prevent attacks on bank employees.
- Implementation of the National Pension System (NPS) active-choice fund across all banks.
- Withdrawal of recent performance review directives issued by the DFS.
With ongoing negotiations and government involvement, banking employees remain hopeful for a favorable resolution in the upcoming discussions.
