The United Forum of Bank Unions (UFBU), a group representing nine bank employee unions, has announced a 48-hour nationwide strike from midnight of March 23 to midnight of March 25, 2025. The strike is being called to push for their long-pending demands.
In response, the Ministry of Labour & Employment has intervened to resolve the matter. The Chief Labour Commissioner (CLC) has scheduled a conciliation meeting on March 18, 2025, at 11:30 AM at the Conference Room, Shramev Jayate Bhawan, Dwarka, New Delhi. Officials from the Department of Financial Services (DFS), representatives from Public Sector Banks, and members of UFBU have been invited to participate in the discussions.
Why Are Bank Unions Going on Strike?
The UFBU, which includes major bank unions like AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC, INBEF, NOBW, and NOBO, submitted a strike notice on March 5, 2025, under the Industrial Disputes (ID) Act, 1947. The unions are demanding better wages, improved pension benefits, new recruitment policies, and better working conditions for bank employees. They claim that these issues have not been addressed despite multiple attempts to negotiate with the authorities.
Government’s Response
The Chief Labour Commissioner’s office has taken up the matter under Section 12(1) of the ID Act, 1947, which allows for mediation in industrial disputes. The Ministry has urged all stakeholders to attend the meeting and work towards a resolution to prevent disruption in banking services.
Who Will Attend the Meeting?
The conciliation meeting on March 18 will be attended by:
- Officials from the Department of Financial Services (DFS)
- Chairpersons and Managing Directors of all Public Sector Banks
- Representatives of the United Forum of Bank Unions (UFBU)
Each bank has been asked to send a senior representative, preferably someone not below the rank of General Manager or Head of HR, to ensure meaningful discussions.
Which Banks Will Be Affected?
The strike will impact the functioning of major Public Sector Banks (PSBs), including:
- State Bank of India (SBI)
- Punjab National Bank (PNB)
- Bank of Baroda (BOB)
- Canara Bank
- Union Bank of India
- Bank of India
- Central Bank of India
- Indian Bank
- Indian Overseas Bank
- UCO Bank
- Punjab & Sind Bank
- Bank of Maharashtra
How Will This Affect Customers?
If the strike takes place as planned, key banking services such as cash deposits, withdrawals, cheque clearances, and loan approvals are likely to be disrupted nationwide for two days. However, ATM services and digital banking are expected to continue without any issues.
What’s Next?
The outcome of the March 18 conciliation meeting will determine whether the strike will proceed or be called off. If no agreement is reached, millions of bank customers across India may face inconvenience on March 23 and 24.
Authorities hope that the discussions will lead to a resolution, avoiding disruption in banking services. Customers are advised to complete important banking transactions before March 23 to avoid any inconvenience.
No comments:
Post a Comment