The United Forum of Bank Unions (UFBU) has called off its scheduled two-day strike, and banks will operate as normal on March 24 and 25. The cancellation followed negotiations with the Finance Ministry and the Indian Banks’ Association (IBA), and officials assured that the union’s major demands would be met.

What caused the bank strike cancellation?

UFBU had originally called the strike to urge:
– Recruitment of new employees
– Temporary employees regularisation
– Five-day week in banks

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But after a consultation meeting on March 21, convened by the Chief Labour Commissioner, the IBA also agreed to proceed with negotiations on recruitment procedures and performance-linked incentives. Moreover, the five-day week idea will now be closely monitored by the authorities.

What this means for customers

As the bank strike has been cancelled, banking services will not be impacted on March 24-25. Regular transactions can be done, one can visit a branch, or use online services without any issues.

It should be noted that banks are still closed on:
– Second and fourth Saturdays
– Sundays
– Official national and state holidays

Upcoming bank holidays

Banks will be open on March 24-25, but some areas will face closures because of local festivals and religious events:

• March 27 (Thursday) – Jammu and Kashmir banks will be closed for Shab-E-Qadr.
• March 28 (Friday) – Jammu and Kashmir banks will also be closed for Jumat-ul-Vida, the last Friday of Ramadan.
• March 31 (Monday) – Banks in most of India will be closed for Eid-ul-Fitr, with the exception of Mizoram and Himachal Pradesh.

For clients who depend on face-to-face banking, it’s best to schedule transactions in advance to stay away from inconvenience amid these regional holidays.

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