Financial institution unions agency on March 24-25 strike as talks with IBA fail

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| Picture Credit score: C.V. Subrahmanyam

The United Discussion board of Financial institution Unions (UFBU) on Thursday (March 13, 2025) stated its two-day nationwide strike on March 24 and 25 can be noticed as scheduled since discussions with the Indian Banks’ Affiliation (IBA) over key calls for did not yield any optimistic end result.

In a gathering with the IBA, all UFBU constituents raised points, together with recruitment in all cadres and a five-day workweek. Nonetheless, the important thing points remained unresolved, Nationwide Confederation of Financial institution Staff (NCBE) Normal Secretary L Chandrasekhar stated.

The UFBU, an umbrella physique of 9 financial institution workers’ associations, earlier introduced the strike to press for these calls for which included filling up the workmen and officer director posts in public sector banks.

The unions have additionally sought the withdrawal of current directives from the Division of Monetary Companies (DFS) concerning efficiency opinions and performance-linked incentives, alleging that such measures threaten job safety and create workers.

The UFBU has additional opposed what it calls “micro-management” of public sector banks by the DFS, arguing that such interventions undermine the autonomy of financial institution boards.

Different calls for embody resolving residual points with the IBA and amending the Gratuity Act to boost the ceiling to ₹25 lakh, aligning it with the scheme for presidency workers and looking for exemption from revenue tax.

The UFBU contains main financial institution unions, together with the All India Financial institution Staff Affiliation (AIBEA), All India Financial institution Officers’ Confederation (AIBOC), Nationwide Confederation of Financial institution Staff (NCBE), and All India Financial institution Officers’ Affiliation (AIBOA).