UFBU Meets DFS Secretary, Read What happened in meeting!!
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The United Forum of Bank Unions (UFBU), which represents nine major bank unions including AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO, held a discussion with the Department of Financial Services (DFS), Ministry of Finance, on 27 November 2025. The meeting was held after the Government’s Gazette notification on 21 November 2025, announcing the implementation of the four new Labour Codes that replace 29 existing labour laws.
According to UFBU, the new Labour Codes have created apprehension and concern among bank employees and trade unions. In this background, DFS invited UFBU for a meeting in New Delhi to understand the unions’ views.
DFS Officials Attend Meeting; UFBU Fully Represented
The meeting was attended by senior DFS officials:
- Mr. N. Nagaraju, Secretary
- Ms. Shalini Pandit, Joint Secretary
- Mr. Mohd. Ashraf, Deputy Secretary
- Mr. Sanjeev Kumar Mishra, Under Secretary
- Mr. V. S. Tiwari, Under Secretary
All UFBU representatives were present during the discussion.
Meeting Highlights
DFS wanted to understand the concerns of unions regarding the new labour laws. UFBU explained that labour rights in India have developed over decades due to continuous efforts of the trade union movement. While unions agreed that changes and improvements in labour laws may be needed based on changing needs, they insisted that such changes must be carried out only after proper consultation with Central Trade Unions. UFBU stressed that the youth of the country need regular and permanent jobs, and labour laws should support permanent employment instead of promoting contractual jobs.
Gratuity Limit and Protection of Labour Rights
The unions pointed out that although the Labour Code proposes gratuity after one year of service, UFBU had demanded that the gratuity limit be increased to Rs. 25 lakh, but this demand has not been accepted. UFBU also said that while some of the current procedures and provisions under existing labour laws may need simplification, such changes must not dilute any existing labour rights. UFBU reiterated that no changes should be made without discussions with Central Trade Unions and a proper consultation process.
UFBU Raised Additional Pending Issues in Meeting
During the meeting, UFBU also highlighted several long-pending issues affecting bank employees. These include:
- Implementation of 5-day banking
- Filling up positions of Workman Directors and Officer Directors in Public Sector Banks
- Adequate recruitment of clerical staff, sub-staff and security staff
- Updation of pension
- Banks bearing the Group Medical Insurance premium for retirees
UFBU informed DFS that it has always supported efforts to strengthen public sector banks and is willing to submit further suggestions toward this goal. They also said they would participate in future discussions whenever DFS invites the unions again.
