In a major show of solidarity, Central Trade Unions and independent sectoral trade union federations have extended their full support to the nationwide bank strike called by the United Forum of Bank Unions (UFBU) on March 24 and 25, 2025.
The support was confirmed during a National Convention of Workers held in Delhi, where leaders from prominent trade unions such as INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, and UTUC came together to discuss issues faced by employees in the banking sector. During the convention, a resolution was passed to stand firmly with the bank employees in their agitation for better working conditions, fair policies, and job security.
Why Are Bank Employees Going on Strike?
The bank strike has been called to protest against several policies affecting public sector banks (PSBs) and their employees. According to UFBU, the strike aims to address key demands that have remained unresolved for a long time. These include:
- Adequate recruitment and job security: Banks are facing severe staff shortages, leading to excessive workload. The unions are demanding regular recruitment and the regularization of temporary employees to ensure stability.
- Implementation of a 5-day work week: Bank employees have long been advocating for a 5-day work week, similar to other government sectors, to improve work-life balance.
- Withdrawal of recent DFS directives: The Department of Financial Services (DFS) has introduced policies related to performance review and PLI (Performance-Linked Incentive) that unions believe threaten job security, create divisions among employees, and violate the 8th Joint Note.
- Safety of bank employees: Many bank officers and staff members have faced verbal and physical abuse from customers, particularly during high-stress situations. The unions are demanding better security measures to protect employees.
- Filling vacant positions: Many banks are running without Workmen and Officer Directors, which affects employee representation in decision-making. The unions want these positions to be filled.
- Resolution of pending issues with IBA: The Indian Banks’ Association (IBA) has not addressed various long-standing concerns of bank employees.
- Amendment of the Gratuity Act: The unions are asking for the gratuity ceiling to be raised to ₹25 lakh, similar to what is offered to government employees, along with an income tax exemption.
- No taxation on staff welfare benefits: Employees receive welfare benefits as part of their compensation, and the unions demand that income tax should not be deducted from these benefits.
- Preventing privatization of IDBI Bank: The unions demand that the government retain at least 51% equity capital in IDBI Bank to ensure public ownership.
- Stop micromanagement by DFS: The unions believe that DFS exerts excessive control over PSBs, affecting employee working conditions.
- End outsourcing of permanent jobs: Many permanent banking jobs are being outsourced, which unions argue undermines job security and reduces accountability.
- Stop unfair labor practices: Unions are demanding an end to unjust employment policies that negatively impact employees.
What Happens Next?
With over 8 lakh bank employees and officers expected to participate, the strike could lead to major disruptions in banking services across India. Banks may experience delays in processing transactions, cash withdrawals, and customer services.
The bank unions and trade unions have urged the government and banking authorities to address these demands before the strike date to avoid inconvenience to the public. However, if their concerns are not met, the unions have made it clear that they are ready to proceed with the two-day strike.
This united stand by the trade unions strengthens the bank employees’ movement, signaling a firm demand for fair treatment, job security, and better working conditions in the banking sector.
