The All India Bank Officers’ Association (AIBOA) has strongly opposed the government’s decision to sell IDBI Bank’s stake to private entities. The union has also demanded that the government halt plans to dilute its stake in five public sector banks (PSBs) and has called for a two-day nationwide bank strike on March 24 and 25, 2025.
Key Demands of AIBOA
AIBOA has raised several demands, including:
- Stopping the sale of IDBI Bank to private entities and urging the government to buy back LIC’s equity holdings in the bank.
- Halting the dilution of government stake in Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India, and Punjab & Sind Bank.
- Merging Nainital Bank with its parent bank, Bank of Baroda, as per past recommendations.
- Adequate recruitment in all cadres to match business growth.
- Implementation of a five-day workweek in the banking sector.
AIBOA Opposes Privatization
Speaking on the issue, S Nagarajan, General Secretary of AIBOA, stated that public sector banks are crucial for nation-building and should remain under government control.
“We oppose the sale of Public Sector Undertakings and financial institutions to private entities. In particular, IDBI Bank should not be handed over to private players. The government must immediately repurchase LIC’s equity holdings in IDBI,” he said.
Nagarajan also emphasized that public sector banks have played a vital role in financial inclusion programs like Jan-Dhan accounts and deposit mobilization. However, recruitments have not kept pace with business expansion, leading to increased workload on existing staff.
Demand for Five-Day Workweek
AIBOA has also renewed its demand for a five-day workweek in the banking industry. Nagarajan pointed out that government offices, stock markets, foreign exchange markets, and LIC of India already follow a five-day schedule. Given the rise of digital banking and alternative delivery channels, he stressed that the demand for a shorter workweek should be addressed without delay.
“Right to Disconnect” from March 10
As part of its protest strategy, AIBOA has urged officers not to respond to official calls, SMS, or WhatsApp messages between 8 PM and 9 AM starting March 10, 2025.
The union, which is part of the United Forum of Bank Unions (UFBU), is determined to press for its demands through the upcoming two-day nationwide strike on March 24 and 25, 2025.
