The United Forum of Bank Unions (UFBU) has confirmed for a nationwide strike on March 24 & 25 after Indian Banks’ Associations (IBA) failed to ressolve the issue demanded. The strike will affect banking services across India for two days.The United Forum of Bank Unions (UFBU) wants some improvements in the banking sector.
What is the reason behind the UFBU strike?
– The unions demands to hire more staff in all job categories to fill the gap of staff shortages.
– UFBU wants temporary employees to be made permanent.
– They want to fill the vacant places of workman and officer director position in Public Sector Banks.
– They want the implementation of a five-day work week in banking sector.
– UFBU opposes the performance review and incentive policies set by the Department of Financial
Services (DFS). They believe these rules threat job security.
– They want to increase the gratuity ceiling to ₹25 lakh similiar to what government employees get and
want the gratuity payment to be exemted from income tax.
– The unions oppose excessive intervention by the DFS, claiming it reduces the autonomy of bank
management.
What is UFBU?
UFBU stands for United Forum of Bank Unions. It is a group made up of nine major bank unions in India.
UFBU represents more than 8lakh employees and officers. It covers employees fron different types of banks, including:
– Public Sector Banks
– Private Sector Banks
– Foreign Banks
– Cooperative Banks
– Regional Rural Banks.
List of nine major bank employees’ union involved in bank strike:
• All India Bank Employees’ Association (AIBEA)
• All India Bank Officers’ Confederation (AIBOC)
• All India Bank Officers’ Association (AIBOA)
• National Confederation of Bank Employees (NCBE)
• National Organisation of Bank Workers (NOBW)
• National Organisation of Bank Officers (NOBO)
• Bank Employees Federation of India (BEFI)
• Indian National Bank Employee Congress (INBEC)
• Indian National Bank Officers’ Congress (INBOC)