Bank Employees Union's announcement: Banks' nationwide strike on 24 and 25 March, talks with IBA did not work out

United Forum of Bank Unions (UFBU) on Thursday stated that its two-day all-India strike would be held according to schedule on March 24 and 25. It made this announcement because it did not gain any favorable results in the talks with the Indian Banks Association (IBA). UFBU representatives met with IBA to settle several issues, including the filling of posts in all cadres and the implementation of the five-day work week.

National Confederation of Bank Employees (NCBE) General Secretary L Chandrasekhar said that no consensus has yet been reached on these major issues. UFBU, the nine bank worker union federation, had already called for a strike on these issues. They include the demand for filling the posts of employee and officer directors in the public sector banks.

Apart from this, the union has also demanded the withdrawal of the recent instructions of the Department of Financial Services (DFS). They say that these instructions threaten the job security of the employees. Also, it will have an adverse effect on the employees. UFBU has also opposed the "micro-management" of public sector banks by DFS, and said that this is weakening the autonomy of the bank board.

Also other demands include resolving the remaining issues with the IBA, amending the Gratuity Act, and increasing the limit to Rs 25 lakh. Apart from this, an exemption from income tax has also been demanded. UFBU comprises major bank unions likethe  All India Bank Employees Association (AIBEA), All India Bank Officers Confederation (AIBOC), National Confederation of Bank Employees (NCBE) and All India Bank Officers Association (AIBOA).