Mon Mar 24 07:00:00 UTC 2025: ## Bank Strike Averted After Government Intervention

**New Delhi, March 21, 2024** – A planned two-day nationwide bank strike has been called off following assurances from the Indian government and the Indian Banks’ Association (IBA). The United Forum of Bank Unions (UFBU), representing nine major bank unions, had threatened the strike for March 24th and 25th to press for various demands related to staffing, employee benefits, and working conditions.

The strike was averted after a consultation meeting on Friday, facilitated by the Chief Labour Commissioner. The Finance Ministry and the IBA pledged to consider the UFBU’s demands, leading to the union’s decision to withdraw the strike notice. A further hearing on the matter is scheduled for April 22, 2025, with the IBA expected to submit a progress report by then.

The UFBU’s key demands included: increased recruitment to alleviate branch staffing shortages; regularization of temporary employees; a five-day work week; withdrawal of performance-linked incentive schemes; enhanced safety measures for bank staff; filling vacant director positions in public sector banks; resolution of pending issues with the IBA; an increase in the gratuity ceiling to ₹25 lakh; an end to outsourcing of permanent jobs; and a cessation of unfair labor practices.

While banks were scheduled to be closed on Saturday, March 22nd (a regular fourth Saturday closure) and Sunday, March 23rd, they will now remain open on Monday, March 24th and Tuesday, March 25th, as planned.

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