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Bank Strike Status: The United Forum of Bank Unions (UFBU), which represents more than 8 lakh bank employees in nine unions in India, launched a statewide strike demanding major changes in the banking sector. Originally planned for March 23–25, the strike has been postponed after discussions with government authorities and the Chief Labour Commissioner.

March 24 Bank Strike: Banks Will Stay Open

After being assured by the central government that their demands would be taken into account, UFBU called off the strike. This implies that on Monday, March 24, banks throughout the country will operate as usual. The walkout has been postponed, but no new date has been announced, and it is expected that negotiations over the workers’ demands will continue.

Important Requirements for Bank Workers

UFBU has called for banks to follow the Reserve Bank of India (RBI), government departments, and insurance companies by implementing a five-day workweek.

Adequate staffing and regularization of temporary employees: The government has been urged by the union to provide job security to temporary employees and to fill vacancies in all cadres.

Protection from workplace abuse: Employees have demanded actions to stop the public from mistreating them, including verbal and physical assault.

The UFBU is advocating for tax exemptions and an increase in the gratuity maximum to Rs 25 lakh in order to amend the Gratuity Act.

Revocation of performance review instructions: The union is demanding that recent government directives on performance-linked incentives (PLI) and job reviews be immediately revoked. These directives have raised concerns about job security.

Permanent job outsourcing must stop: Unions have denounced bank outsourcing as an unjust labor practice that puts job security at risk.

What Happens Next?

The government’s response to the demands of the banking collective remains uncertain despite the postponement of the strike. If their grievances are not resolved, bank unions may choose to stage further demonstrations in the following weeks. Regular banking services won’t be disrupted for the time being.