This PSU Bank Announced Strike, All branches will remain closed on 20th March

Employees of the Bank of Maharashtra have declared a statewide walkout for March 20, 2025. The strike will resume on March 20, 2025, as the conciliation negotiations with management have failed. The other bank unions have also expressed their complete support to Bank of Maharashtra association. 

Bank of Maharashtra Employees have been asking the government and bank management to comply with their demands, but nobody has taken notice. With the following demands, the strike has now been declared.

Recruitment of PTS through Absorption of Temporary PTS:

Employees are demanding the absorption of Part-Time Sweepers (PTS) who are currently working on a temporary basis into permanent positions. The union argues that these employees have been serving the bank for years and deserve formal employment with proper benefits.

Adequate Recruitment in Sub-Staff and Clerical Cadre:

The union has raised concerns over staff shortages in sub-staff and clerical positions, which are affecting the efficiency of banking operations. They are calling for immediate recruitment to fill vacancies and ensure smooth functioning.

Filling Up of Special Assistant Posts as per Agreement:

Employees claim that certain posts of special assistants have remained vacant, despite previous agreements that mandated their filling. The union is demanding the implementation of the agreed-upon staffing policies.

Restoration of Bipartisan Practices:

The union has accused the bank management of unilaterally making decisions without consulting employee representatives, leading to dissatisfaction among staff. They are demanding the restoration of a bipartisan approach in decision-making, where employee unions have a say in policies affecting workers.

Restoration of Union Offices:

Employees are also demanding the reinstatement of union offices within bank premises, arguing that these offices play a crucial role in addressing employee grievances and ensuring effective communication between the workforce and management.

Honoring the De Jure Recognition Agreement:

The union has insisted that the bank management adhere to the De Jure Recognition Agreement in both letter and spirit, ensuring that employee rights and agreements are respected.

The banking industry will be significantly impacted by the strike. Additionally, the UFBU has declared a strike for March 24 and 25, 2025. Employees of Punjab National Bank have also declared a strike for March 28 and 29, 2025. The lack of employees is the biggest issue the banks are dealing with. Banks have been experiencing a staffing shortage for a while, but no one is taking notice. Other employees are compelled to work longer hours due to a staffing shortage, which has an adverse effect on their physical and emotional well-being.

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Why Bank Unions announced Strike and other trade unions support this Strike?

 

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Latest Update on Bank Strike: Reconciliation Meeting Held Today

 
A reconciliation conference involving the IBA, bank associations, and bank management was held today. This conference was attended by the labor commissioner and the management of all public sector banks. On March 24 and 25, 2025, Bank employees announced a strike, prompting the demand for the reconciliation meeting. 

 Due to demands like 5-day banking not being met, the bank associations have declared a strike. The meeting was place today, but no agreement could be reached. Therefore, the next meeting is scheduled for March 21, 2025, at 11:30 a.m. 

 The CLC office was the location of the meeting. The bank management, DFS, and IBA were all present. Every topic was covered. Regarding the concerns, particularly recruitment, 5-day banking, and unilateral PLI, there was no improvement.

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CBI Arrests Bank Manager for Taking Bribe

The branch manager of Baroda UP Bank's Sikhola branch in Azamgarh was detained by the Central Bureau of Investigation (CBI) as he was taking a ₹20,000 bribe. The offender was apprehended while requesting money from an account holder in order to permit the withdrawal of funds from a sanctioned loan. 

The complainant had taken out a loan under the Dairy Loan and Kisan Credit Card (KCC) programs, according to CBI authorities. According to reports, the branch manager wanted a payment of ₹20,000 when he went to the bank to withdraw the authorized amount. The manager informed the complainant that he would not be able to access his loan funds if he did not make the payment. The victim, distressed by the demand, informed the CBI of the situation.

The CBI promptly responded to the complaint after registering the case on March 12, 2025. The CBI's Anti-Corruption Branch set up a trap on March 11, 2025, and apprehended the accused as he accepted the money. 

 The manager was taken into custody right away and is currently being brought before the Lucknow special CBI court. 

 This episode brings to light a recurring problem in the banking industry, especially in rural areas, where officials are allegedly demanding bribes in order to execute loans under government programs. When attempting to obtain their legitimate payments, farmers and small borrowers frequently encounter exploitation by crooked officials and middlemen.

According to CBI officials, the probe is still underway and further information could come to light. It's possible that additional officials are engaged in similar dishonest activities. Call for Public Reports of Corruption Both the CBI and the bank administration have called on the public to report any bribery demands made by bank officials in the wake of this case. 

 Authorities have promised that dishonest staff will face harsh consequences. It is anticipated that this crackdown will send a powerful message and make those engaged in such immoral actions fearful. Concerns over the integrity and transparency of banking operations have also been brought up by the case, particularly in rural areas where farmers depend on loans to make a living. The action taken by the CBI is regarded as an important milestone in the fight against corruption.

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FBOIOA launches ‘Sahayya’ scheme to provide interest-free financial assistance to officers

 

A unique relief program called "FBOIOA Sahayya" has been launched by the Federation of Bank of India Officers' Associations (FBOIOA) to provide interest-free financial aid to officers who have had their salaries drastically reduced as a result of perquisite tax deductions. The program's goal is to give officers who had significant tax deductions in February 2025 and whose net salary was less than Rs.20,000 instant financial support.

Public sector banks have recently started taxing the perks that officers are provided. Benefits offered to bank employees include low-interest loans. For instance, the average person's car loan interest rate is 9%. Bank employees receive a 5.5% loan rate.

Because bank employees pay low interest rates, they can save money on loans, which is considered advantageous. Bank workers are now required to pay taxes on this perquisite. This indicates that tax will be paid on the amount that differs because of the different interest rates. If the general public pays Rs. 1000 in interest on a car loan while bank employees pay Rs. 700, the bank employees must pay tax on the Rs. 300 difference.

Financial distress resulted from the Bank of India's officers receiving drastically reduced or no pay in February 2025. Nearly 1,400 officers reportedly have net salary credits of less than Rs. 20,000 as a result of high tax deductions applied by the bank.

In response, the FBOIOA has been negotiating with bank management to find a long-term solution. However, to offer immediate relief, the federation has launched this interest-free advance scheme for affected officers.

Who is eligible for the scheme?

To apply for financial assistance under the Sahayya scheme, an officer must meet the following criteria:

* Must be an active FBOIOA member.

* Net salary for February 2025 should be below Rs.20,000, primarily due to perquisite tax deductions.

* Application process and required documents

* Eligible officers need to submit an application form (Annexure-1) through their Unit General Secretary along with the following documents:

1. A copy of the February 2025 salary slip showing a net salary below Rs.20,000.

2. Five post-dated cheques (PDCs) of Rs.10,000 each, drawn in favor of the respective unit.

Deadline for application submission: March 7, 2025.

Disbursement and repayment of financial assistance

Under the FBOIOA Sahayya scheme, officers will receive ₹50,000 as an interest-free financial advance, which will be disbursed in two equal installments:

Rs.25,000 as the first installment upon approval of the application.

Rs.25,000 as the second installment in the following month.

The repayment will begin from May 2025, with officers required to repay the total amount in five equal monthly installments of Rs.10,000 each.

Federation’s commitment to officer welfare

The FBOIOA has assured officers that discussions with bank management are ongoing to prevent such financial distress in the future. While the Sahayya scheme serves as a short-term relief measure, the federation remains committed to finding a long-term solution for perquisite tax deductions affecting officers’ salaries.

Officers facing financial difficulties are encouraged to apply for the scheme before March 7, 2025, to avail of this support.

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PNB Implements New Transfer Policy for Officers

In accordance with the November 2024 recommendation from the Finance Ministry, Punjab National Bank (PNB) has updated its transfer policy for officials. The goal of this policy is to make officer transfers across public sector banks more transparent, consistent, and equitable. While taking into account geographical considerations, tenure restrictions, employee preferences, and grievance redressal procedures, the new standards guarantee a systematic approach to postings.

Key Highlights of PNB’s Transfer Policy

1. Automated and Transparent Transfer Process
   PNB is implementing an online system to manage officer transfers, eliminating manual interventions and reducing bias. This system will automate the entire transfer process, allowing officers to indicate their preferred locations and ensuring fairness in postings.
2. Tenure-Based Transfer Guidelines
   To prevent stagnation and ensure operational efficiency, PNB has introduced specific tenure limits for officers:
   • Maximum of 3 years at a single branch
   • Up to 6 years within the same circle
   • Up to 9 years within the same zone
   • After 9 years, officers are expected to transfer outside their current state to ensure better workforce distribution and professional growth
3. Support for Women Employees
   Recognizing the need for work-life balance, the policy prioritizes female officers for postings near their preferred locations. This measure aims to reduce the stress of frequent relocations and provide a supportive work environment.
4. Structured Grievance Redressal Mechanism
   PNB will establish a dedicated grievance redressal system to handle concerns related to transfers. Officers can submit appeals for review, and genuine hardship cases will be considered to ensure fair and timely resolutions.
5. Regional and Linguistic Considerations:To enhance customer service efficiency, officers up to Scale-III will be preferably posted within their linguistic regions, ensuring better communication with customers. However, such accommodations will be subject to vacancy availability and administrative needs.
6. Timely and Systematic Transfers: Regular transfers will be completed before June each year, allowing officers to plan relocations in advance.Mid-year transfers will be minimized and will only occur in cases of promotions, disciplinary actions, or urgent administrative requirements.
7. Posting in Difficult Areas: Some locations will be classified as “Difficult Areas” due to factors like harsh climate, limited infrastructure, or security concerns. Officers serving in these areas will receive priority for transfers upon completing their designated tenure pps.

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Bank Employee Suicide, Family Alleges Workplace Harassment

 

A senior ICICI Bank employee, Vivek Samdarshi, allegedly died by suicide in Bengaluru, with his family accusing top bank officials of workplace harassment and excessive work pressure. Concerns regarding toxic work environments in corporate settings have been raised by the incident.

Vivek Samdarshi, the deceased, was the Regional Head of Sales at ICICI Bank and had been working with the bank for over five years. His family claims that he was under immense stress due to alleged workplace harassment and unrealistic performance expectations set by his seniors.

His elder brother, Vikash Samdarshi, has formally submitted a police case at Thalaghattapura Police Station, naming Raghu Kumar (Regional Head, ICICI Home Loan Department) and John Joseph (Zonal Head, ICICI Bank Home Loan Department) as the individuals allegedly responsible for abetting his suicide.

According to the complaint, Vivek had constantly confided in his family about the intense strain and ongoing humiliation he was enduring at work. Raghu Kumar, according to his brother, made demeaning comments, telling Vivek, "If you can't perform, you should die." John Joseph is accused of encouraging such toxic behavior instead of addressing these issues, which made Vivek's conditions worse.

The tragedy transpired in the early hours of March 7, 2025. Around 3 am, Vikash Samdarshi received a frightening phone call, notifying him that his brother was in critical condition. Despite prompt medical attention, Vivek succumbed to his injuries later that day. He was reported dead at 11:30 pm at DHEE Hospital.

The police have registered a case and are currently investigating the allegations against the bank officials. ICICI Bank hasn't yet released an official statement about the incident or the family's allegations, though.

Anna Sebastian Perayil, a 26-year-old employee of Ernst & Young in Pune, committed suicide a few months prior to this tragic incident. In public, Anna's mother had claimed that her daughter's death was brought on by a "excessive workload." Ernst & Young offered their sincere condolences after the incident and reaffirmed their commitment to improving working conditions in all of their Indian offices.

Vivek Samdarshi’s story has once again raised serious questions about job stress, harassment, and mental health difficulties in corporate organizations. According to experts, businesses should be proactive in preventing toxic workplace cultures and offering high-pressure workers mental health support.

The investigation into Vivek’s death is ongoing, and his family continues to demand strict action against those responsible.

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Banks must continue to innovate & transform: FM

On Friday, Nirmala Sitharaman, the finance minister, urged banks to embrace innovation and digital transformation, highlighting the necessity of adjusting to shifting consumer demands and technology breakthroughs.

She made the following statement during a State Bank of India (SBI) ceremony when she electronically opened 70 new branches and 501 female customer service locations nationwide: "With a legacy spanning 218 years, SBI symbolises resilience, trust, and a relentless digital-first approach."

She emphasized that through its efforts in digital banking, financial inclusion, and rural development, SBI has had an impact on society in addition to its financial success. In order to keep its position as the industry leader, she urged SBI to keep embracing technology and sustainability.

"The banking industry needs to keep innovating and taking the lead as the world changes quickly.  "I have faith that SBI will be able to handle the situation," she stated.

 Sitharaman pointed out that the banking industry in India is growing in spite of a shifting regulatory landscape and heightened competition from fintech companies and other newcomers.  "Institution like SBI must continue to innovate with the rise of tech-savvy customers and their demand for personalized, on-the-go banking," she stated, adding that change should be viewed as a continuous process.

 The minister also emphasized the bank's support to economic growth and its role in carrying out a number of significant government programs.

 

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