Bank strike called off: Will your bank be open on March 25?

Good news for bank customers! The nationwide bank strike scheduled for March 24-25 has been called off after last-minute discussions. This means banks across India will operate as usual, ensuring no disruptions in services.

Why Was the Strike Planned?

The United Forum of Bank Unions (UFBU), which represents over 800,000 bank employees across nine unions, had initially announced a two-day strike to push for several key demands. These included:

A five-day workweek

Adequate staff recruitment

Stronger laws to protect bank employees from attacks

Better work-life balance

Additionally, the unions opposed recent directives from the Department of Financial Services (DFS) on performance reviews and performance-linked incentives (PLI), which they argued could impact job security.

What Changed?

After intense negotiations with the Chief Labour Commissioner and the Indian Banks' Association (IBA) on March 22, the unions decided to put the strike on hold. While this brings relief to customers, discussions are far from over. The next round of talks is scheduled for April 22, where the IBA must present updates on the union's demands.

Will Banks Be Open on March 25?

Yes! Banks will function normally on March 24 and 25, as the strike has been called off. The Reserve Bank of India (RBI) has also confirmed that there are no scheduled holidays under the Negotiable Instruments Act on these days.

However, customers should keep in mind that bank branches may still be closed due to state-specific holidays. For uninterrupted banking services, online banking, ATMs, mobile apps, and bank websites remain accessible.

What’s Next?

While a new strike date hasn't been announced, the unions are still pushing for:

Resolution of pending issues with the IBA

Amendments to the Gratuity Act, increasing the ceiling to ₹25 lakh

Tax exemptions for gratuity benefits

With negotiations ongoing, bank employees are hopeful for a resolution that meets their demands without further disruptions. Stay tuned for updates after the next hearing on April 22!