Bank unions firm on March 24-25 strike as talks with IBA fail

UFBU constituents demand recruitment, five-day workweek, and oppose DFS directives in ongoing negotiations with IBA. Strike planned.

The United Forum of Bank Unions (UFBU) on Thursday (March 13, 2025) said its two-day nationwide strike on March 24 and 25 will be observed as scheduled since discussions with the Indian Banks' Association (IBA) over key demands failed to yield any positive outcome.

In a meeting with the IBA, all UFBU constituents raised issues, including recruitment in all cadres and a five-day workweek. Still, the key issues remained unresolved, National Confederation of Bank Employees (NCBE) General Secretary L Chandrasekhar said.

The UFBU, an umbrella body of nine bank employees' associations, earlier announced the strike to press for these demands which included filling up the workmen and officer director posts in public sector banks.

The unions have also sought the withdrawal of recent directives from the Department of Financial Services (DFS) regarding performance reviews and performance-linked incentives, alleging that such measures threaten job security and create employees.

The UFBU has further opposed what it calls "micro-management" of public sector banks by the DFS, arguing that such interventions undermine the autonomy of bank boards.

Other demands include resolving residual issues with the IBA and amending the Gratuity Act to raise the ceiling to ₹25 lakh, aligning it with the scheme for government employees and seeking exemption from income tax.

The UFBU comprises major bank unions, including the All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), and All India Bank Officers’ Association (AIBOA).