Jobaaj Stories
Bank Strike in India: March 24-25 Disruptions
Planning a bank visit next week? Think again. A nationwide two-day bank strike, called by the United Forum of Bank Unions (UFBU), is set for March 24th and 25th, potentially disrupting services for four consecutive days (March 22nd-25th). This follows failed negotiations with the Indian Banks' Association (IBA).
Why the Strike?
The UFBU, representing over 8 lakh bank employees across public, private, and regional rural banks, is demanding significant changes. Key issues include:
- Increased recruitment to alleviate staff shortages.
- Regularization of temporary workers.
- A five-day workweek.
- Abolition of the Performance-Based Incentive (PLI) scheme.
- Improved employee safety against customer misconduct.
- Filling vacant positions in public sector banks.
- Raising the gratuity limit to ₹25 lakh.
- Ending outsourcing of permanent jobs.
Impact on Banking Services
While ATMs and digital banking (UPI, net banking) will likely remain operational, cheque clearances, cash transactions, and loan processing will be severely affected on March 24th and 25th. The fourth Saturday and Sunday (March 22nd and 23rd) also contribute to a four-day disruption. Plan accordingly!
Which Banks are Affected?
All public, private, and regional rural banks are expected to be impacted, although official statements from individual banks like SBI, PNB, BoB, ICICI, and HDFC are pending.
Preparing for the Disruption
To minimize inconvenience, complete urgent banking tasks before March 22nd. Withdraw sufficient cash, schedule automatic payments, and familiarize yourself with digital banking options. Businesses should adjust their cash flow and payment schedules.
Conclusion
The upcoming bank strike promises significant disruption. Proactive planning and utilization of digital banking services are crucial for navigating this period smoothly. Stay updated on further developments as negotiations continue.
