Bank Strike on March 2025: Ahead of the end of the financial year, the United Forum of Bank Unions (UFBU) has decided to postpone the bank strike initially planned for March 24 and 25, indefinitely. The decision followed constructive discussions on key issues, including a five-day workweek.
Representatives from the Indian Banks’ Association (IBA), the Department of Financial Services (DFS) under the Union Ministry of Finance, and the Central Labour Commissioner (CLC) attended the discussions. The meeting focused on addressing the unions’ demands, a report by Business Standard said.
According to media reports, the All India Bank Employees Association (AIBEA), a key UFBU member, confirmed in a statement that a successful pacification meeting was held last week. The UFBU is a coalition of nine bank unions. The UFBU includes key banking unions such as AIBEA, AIBOC, NCBE, AIBOA, and BEFI.
Per reports, a DFS joint secretary had joined via video call and relayed details of a conversation between the Finance Minister and the DFS secretary regarding the five-day working week proposal for bank employees. Additionally, the IBA suggested further dialogue on recruitment, performance-linked incentives (PLI), and other concerns raised by the unions.
The next meeting between the stakeholders is scheduled for the third week of April.
Will banks be open or shut on March 24?
With the union calling off the strike, banks across India will operate normally on March 24. According to the Reserve Bank of India’s (RBI), there is no holiday today under negotiable instruments act. Thus, bank branches will open and function without any hindrance. The RBI’s website provides information about holidays, which vary by state. While banks remain shut on these dates, customers can still access banking services via net banking, ATMs, mobile applications, and bank websites.
Upcoming holidays in March
According to the RBI bank holiday calendar, banks are set to be closed on March 31 on the occasion of Id-Ul-Fitr. Branches in all the states except Mizoram, Himachal Pradesh, will remain closed on the day.