The two-day nationwide bank strike scheduled for March 24 and 25 has been called off following a meeting between the United Forum of Bank Unions (UFBU) and the Central Labour Commissioner.
In a circular, the UFBU stated that the adjourned conciliation meeting was held on Friday, where key issues, including a five-day banking week, recruitment, and performance-linked incentives (PLI), were discussed in detail. Representatives from the Indian Banks’ Association (IBA) and the Department of Financial Services (DFS) participated in the talks, with the joint secretary of DFS joining via video call.
The strike was expected to disrupt banking services across the country from March 22 to March 25. Since March 23 is a bank holiday, the strike on March 24 and 25 would have resulted in a four-day shutdown, affecting cash transactions, cheque clearing, remittances, and loan processing.