Bank Strike Today: Are banks open today? What's the status of union strike?

Bank Strike Today: United Forum of Bank Unions (UFBU) had earlier announced a strike on March 24 and 25

Bank Strike Today: The United Forum of Bank Unions (UFBU),which represents over eight lakh bank employees in nine unions across India, had announced a two-day nationwide strike earlier this week, to call for changes in the banking sector.

Banks will be upon today after nationwide strike was called off(Abeer Khan/Bloomberg)

However, after a consultation between the chief labour commissioner and all the concerned parties on Friday, the strike was deferred, reported news agency PTI.

Are banks open today?

The Centre vowed to look into the demands made by bank employees, due to which the strike scheduled for Monday was cancelled. A new date for the strike or an update on the government's actions regarding the banking collective's demands has not been decided yet.

With the strike having been deferred, banks are expected to operate normally on Monday, March 24.

The UFBU had announced a strike from the night of March 23 to March 25, demanding that the government implement changes to improve the lives of employees working in the banking sector.

Pankaj Kapoor, VP, All India Bank Officers Confederation (AIBOC) told ANI, had earlier announced, "Banking services will be interrupted for four days starting from March 22, and March 23 is bank holiday, and 24-25 March is strike. Due to this, banking services like clearing house, cash transaction, remittances, advances will be affected for four days starting from March 22."

The unions of bank employees has made the following demands:

• UFBU had called for the implementation of a five-day work week. In a press release they stated that the entire financial sector including the RBI, insurance companies and the government as well have five days working.
• The union collective demanded adequate recruitment in all cadres to facilitate branch staffing and regularise all temporary employees.

• They have called for authorities to ensure that bank staff should be treated properly and be protected from the assault, abuses leveled by unruly members of the public.
• The UFBU has asked for an amendment to the Gratuity Act to increase its ceiling to ₹25 lakh, along with an exemption on tax. In the press release, they stated, "Do not recover income tax on staff welfare benefits given to employees and officers on concessional terms."
• They stated that they wanted the immediate withdrawal of the recent DFS/government directives on performance review and PLI, which threaten job security.
• UFBU also asked for the government to stop outsourcing permanent jobs in banks and unfair labour practices in banking industry.