Winning Bizness Desk

Mumbai. The United Forum of Bank Unions (UFBU) has announced a nationwide 48-hour strike starting from midnight on March 23. The strike will affect all government, private, and foreign banks across the country. The decision was officially declared during a press conference held in Shimla on Monday. Employees from nine bank unions will participate in the strike to press for their demands.

Demand for Adequate Recruitment

Union officials emphasized the need for more recruitment in banks. They pointed out that the number of employees in public sector banks has been declining over the years. From 8.86 lakh in 2013, the workforce has shrunk to 7.46 lakh in 2024. Clerical staff numbers have also dropped from 3.98 lakh to 2.46 lakh, while sub-staff strength has reduced from 1.53 lakh to 94,000. The unions are also demanding that temporary employees be made permanent.

Call for a Five-Day Workweek

One of the key demands of bank employees is the introduction of a five-day workweek, similar to that of the Reserve Bank of India (RBI) and insurance companies. Employees argue that this move will improve work-life balance and boost efficiency. The demand for better job security and the appointment of worker directors in banks was also raised during the press conference.

Tax Exemption on Employee Benefits

The unions are pushing for an increase in the gratuity limit to ₹25 lakh and the removal of income tax on various employee welfare benefits. Additionally, they have urged the government to retain its 51 percent stake in IDBI Bank to prevent privatization. Another major concern raised was the outsourcing of permanent banking jobs, which the unions want to be stopped immediately.

Protest Against Government Interference

Bank unions have also called for a reduction in government interference in banking operations. They believe that independent functioning will lead to better efficiency and service delivery. The strike is expected to significantly impact banking services, with transactions and other operations coming to a halt for two days. Customers have been advised to complete their important banking work before March 23.

Timeline of the Strike Development

• March 18 – UFBU announces the 48-hour strike in a Shimla press conference.
• March 23 (Midnight) – Strike begins; banking operations come to a halt.
• March 24-25 – All banks remain closed as employees protest.
• March 26 – Banking services expected to resume.