[ad_1]
The United Forum of Bank Unions (UFBU) has called off its planned two-day strike on Monday (March 24) and Tuesday (March 25). This means banks will remain open as usual.
Index Fund Corner
Sponsored
| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
The strike was canceled after the Finance Ministry and the Indian Banks’ Association (IBA) assured the unions that their demands would be considered.
The Chief Labour Commissioner intervened, holding a consultation meeting with all parties on Friday (March 21).
Why was the strike planned?
UFBU had announced the strike to push for better recruitment, regularisation of temporary staff, and a five-day workweek. After discussions, the IBA agreed to further talks on recruitment and performance-linked incentives.
The Chief Labour Commissioner assured direct monitoring of the five-day banking workweek proposal.
What does this mean for customers?
All banks will function normally on March 24-25. As per existing rules, banks remain closed on second and fourth Saturdays, Sundays, and designated regional and national holidays.
Upcoming bank holidays in March
While banks will be open on March 24-25, some regional holidays will affect banking services in certain states:
March 27 (Thursday): Banks in Jammu and Kashmir will remain closed for Shab-E-Qadr.
March 28 (Friday): Banks in Jammu and Kashmir will observe a holiday for Jumat-ul-Vida, the last Friday of Ramadan.
March 31 (Monday): Eid-ul-Fitr will be a public holiday in all states and Union Territories, except Mizoram and Himachal Pradesh.
Who is part of the UFBU?
The UFBU represents nine major bank employees’ unions, including:
- All India Bank Employees Association (AIBEA)
- All India Bank Officers’ Confederation (AIBOC)
- National Confederation of Bank Employees (NCBE)
- All India Bank Officers’ Association (AIBOA)
- Bank Employees Federation of India (BEFI)
- Indian National Bank Employees Congress (INBEC)
- Indian National Bank Officers’ Congress (INBOC)
- National Organisation of Bank Workers (NOBW)
- National Organisation of Bank Officers (NOBO)
First Published: Mar 24, 2025 11:09 AM IST
[ad_2]
Source link