Banking services in India will be disrupted on March 24 and March 25 due to a nationwide two-day strike called by the United Forum of Bank Unions (UFBU). This means that all private and public sector banks will be closed for 2 days. The strike is in response to several demands, including improved recruitment across all levels, regularization of temporary employees, and the introduction of a 5-day work week in the banking sector.
UFBU is a coalition of 9 bank unions representing over eight lakh employees and officers across public sector banks, private sector banks, foreign banks, cooperative banks, and regional rural banks.
The unions have also voiced their opposition to a recent directive from the Department of Financial Services (DFS) regarding performance-linked incentives and reviews. They argue that such measures create uncertainty for employees and should be revoked.
According to L. Chandrasekhar, General Secretary of the National Confederation of Bank Employees (NCBE), despite several rounds of discussions, the Indian Banks’ Association (IBA) has failed to address critical concerns, such as:
The UFBU represents nine major bank employees’ unions, including:
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Published on: Mar 18, 2025, 10:38 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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