Nationwide bank strike on January 27 hits operations across India

Approximately 8 lakh bank employees and officers nationwide participated in the nationwide bank strike organized by the United Forum of Bank Unions (UFBU) on January 27, 2026, according to a news release from the bank unions. 

The strike was seen in public sector banks, private sector banks, foreign banks, regional rural banks, and cooperative banks, according to the UFBU, an umbrella organization of nine unions that represent bank officials and employees. 

The forum described the strike as a "total success," stating that it had a significant negative impact on regular banking operations across the country.The strike was called to press for the long-pending demand for a five-day work week in the banking industry, including declaring all Saturdays as bank holidays. At present, only the second and fourth Saturdays of every month are bank holidays.

"The government has refused to approve the implementation of the five-day banking week despite repeated assurances and formal agreements, so we were forced to go on strike," UFBU stated in a statement. The unions cited a memorandum of agreement signed with UFBU on December 7, 2023, and the subsequent settlement and joint note dated March 8, 2024, as the basis for the Indian Banks' Association's (IBA) recommendation of a five-day workweek. In order to make up for Saturdays being designated as holidays, everyday working hours from Monday through Friday were to be extended by forty minutes.

According to UFBU, the demand for a five-day work week has been pending since 2015, when the IBA and the government agreed to declare the second and fourth Saturdays as holidays, with an assurance that the remaining Saturdays would be reviewed later. However, the matter has remained unresolved despite further discussions in 2022 and a formal recommendation made in 2023.

The forum also noted that similar work-week patterns are already in place in institutions such as the Reserve Bank of India, Life Insurance Corporation of India, and General Insurance Corporation, besides central and state government offices. Stock exchanges and money markets also function only from Monday to Friday.

 

Conciliation meetings were held by the Chief Labour Commissioner on January 22 and 23, 2026, in New Delhi, with officials from the finance ministry participating. However, UFBU said the meetings did not yield any positive outcome, prompting the unions to go ahead with the strike.

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UFBU Meeting 23 January 2026 Updates - 5 Days Banking

Today (23.01.26) again a meeting was held between UFBU, DFS, IBA, CLC and Bank Management for implementation of 5-Day Banking. The meeting was held at 3:30 PM in continuation to yesterday’s (22.01.26) meeting. Yesterday, the talks between UFBU and the Government of India failed, and the strike continued. Today also, the talks between UFBU and the government failed, and the strike will be conducted all across India on 27 January 2026.

Once again, the conciliation proceedings started to discuss the issue contained in the strike notice dated 08.01.2026 for the proposed strike to be held on 27.01.2026. At the outset, the Ld. representatives of DFS submitted that things are moving in the right direction and some decisions have been taken yesterday in favour of the Financial Sector. Accordingly, he requested the Ld. representatives of UFBU to reconsider their stand and defer the strike reflecting good gesture which may lead to positive outcomes.

At this stage, the Ld. representatives of IBA also requested in the same line of DFS and reiterated to consider the appeal so as to ensure that the dignitaries persuading their causes before the competent authorities may be strengthened to put forth their submission positively.

On the other hand, the Ld. representatives of UFBU reiterated that they are aware about the meaning and consequence of strike which is the ultimate legal right with the workmen. As such, they are not also of the intent to use such a stringent measure for pressing on the demand but as they have already deferred three such consecutive occasions of the proposed strike on some of the issues which contained the issue of 5 days banking also. As the Govt. is not at all responding on the issue of 5 days banking, they do not have any option in such compelling circumstances but resort to strike.

As the stalemate continued, the CLC(C) as Conciliation Officer also made an appeal to the Ld. union representatives to reconsider and avoid any direct action in the public interest so that industrial harmony be maintained. At the same time, the CLC(C) also advised other stakeholders to convey the message at appropriate level and try their level best to resolve the issue in public interest. It is also pertinent to mention at this stage that office of the CLC(C) is always open to facilitate the dialogue whenever it is required.

In the meantime, the provisions contained u/s 33(1) and 22 of the ID Act, 1947 shall remain in vogue. Next date in the matter is fixed on 09.03.2026 at 11.30 AM.

🗞️ What's happening right now about Strike

• Nationwide bank strike planned for  January 27, 2026 — Bank employee unions under the United Forum of Bank Unions (UFBU) have called a one-day nationwide strike to press for the implementation of a full five-day work week (i.e., both Saturdays off). 

• Banks likely to be closed for up to four days, from Jan 24–27, 2026 — because the strike overlaps with regular weekend holidays and Republic Day holidays. 

• Disruption in banking services expected across Gujarat and other states on Jan 27, with many branches closed and services slowed down. Around 800,000 bank employees are expected to participate nationwide; in Bihar alone, about 8,100 branches and 50,000 staff are involved. 

• Unions have also been urging political support (for example from West Bengal’s Chief Minister) to strengthen their strike call and demands. 

• The strike demand centers around the five-day working week, a change that was recommended by the banking industry earlier but hasn’t yet been formally implemented by the government. 

📌 Why it matters

• Customer impact: Physical bank branches may be shut on the strike day — but digital services (mobile banking, ATMs, online transfers) often remain available. Plan ahead for essential transactions. 

• Union demands: The main focus is the five-day work week, but bank workers often include other issues in agitation (staff shortages, working conditions, staffing norms etc.). 

If you’d like, I can pull specific state-wise closure lists or official notifications from your local banks for Jan 27 specifically.

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Latest Updates on Bank Strike,IBA UFBU Meeting Update 14 January

IBA and UFBU met today to discuss the launch of 5-Day Banking. On January 27, 2026, UFBU declared a strike and demanded that 5-Day Banking be implemented right now. Major bank officer and staff unions were called to a conference by the Indian Banks' Association (IBA) on January 14, 2026, to discuss their demands for the planned nationwide bank strike.

The IBA called UFBU to a conversation today in response to the strike notice that UFBU served on the IBA. As a result, this afternoon's talks were held in the IBA headquarters. Chief Executive Shri A K Goel, Deputy Chief Executive Shri Gopal Murali Bhagat, Mr. Brajeshwar Sharma, the departing Senior Advisor, HR&IR, and the newly appointed Shri Arvind Misra represented IBA. 

IBA notified UFBU that the government has previously been advised to declare the remaining two Saturdays as holidays, and the government's response is still pending while it is being considered. IBA added that a few other concerns, most notably the PLI issue, are still unresolved.

IBA therefore recommended that all of these problems be investigated further and asked the UFBU to postpone going on strike on January 27, 2026.In response to IBA's request, UFBU said that although it was decided to proclaim the second and fourth Saturdays as holidays in 2015, it was promised that the remaining two Saturdays would be taken into consideration later. However, since then, nothing has occurred. 

In February 2023, IBA agreed to proclaim the remaining Saturdays as holidays, subject to government approval, while UFBU agreed to extend working hours by 40 minutes every day, Monday through Friday. The government has already been requested to consider this plan, and it has been pending for the last two years.

UFBU emphasised that in the present scenario of banking, declaring the remaining two Saturdays as holidays is most essential. In view of the inordinate delay in implementing this understanding reached between IBA and UFBU, UFBU regretted its inability to accept IBA’s request to postpone the strike.

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AIBEA announced Nationwide General Strike

AIBEA announced Nationwide General Strike on 9th July,2025 which is postponed from 20th May,2025.

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UFBU and IBA meeting postponed

The Conciliation meeting between UFBU and IBA that was scheduled to be held on 22 April has been postponed to 30 April.Bank Employees are protesting against non-fulfillment of demands such as 5 Day Banking and adequate recruitment of staff. 

Earlier, meeting was held on 18.03.2025 but any decision would not be arrived at. So next meeting was scheduled for 21.03.2025. In that meeting, the strike was deferred and UFBU said that a consensus had been arrived for most of the demands.

What UFBU said in last meeting on 21.03.2025?

Serious negotiations on our demands began the morning before today's adjourned conciliation meeting. There were representatives from the Department of Financial Services (DFS) and the Indian Banks' Association (IBA).

The Finance Minister (FM) and the DFS Secretary had a fruitful conversation regarding the desire for five-day banking, according to the Joint Secretary of DFS, who joined the meeting via video chat.

The IBA suggested more talks on important topics like hiring, Performance-Linked Incentive (PLI), and other difficulties. The implementation of five-day banking is one of the topics that the Chief Labour Commissioner (CLC) promised to personally monitor.

The adjourned meeting will take place again during the third week of April. It was agreed to delay the strike scheduled for the 24th and 25th by one or two months in light of these encouraging developments.

All units are hereby informed that the strike has been postponed, and a detailed circular will be issued soon.

Key Demands Raised by Bank Employees

• Adequate Recruitment: Address the shortage of staff across all cadres in banks.
• Five-Day Work Week: Implement a five-day work week for the banking industry.
• Withdrawal of DFS Directives: Demand the immediate withdrawal of the Department of Financial Services (DFS) directives on performance reviews and the Performance Linked Incentive (PLI) scheme, which threaten job security, create divisions among employees, and undermine the autonomy of public sector banks (PSBs).
• Safety of Bank Staff: Ensure protection for bank officers and staff against customer assaults and abuses.
• Fill Vacant Posts: Expedite the appointment of workmen and officer directors in PSBs.
• Resolution of Pending Issues: Resolve residual issues with the Indian Banks’ Association (IBA).
• Amend the Gratuity Act: Increase the gratuity ceiling to ₹25 lakhs, similar to government employees’ schemes, and provide income tax exemptions.

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This PSU Bank Union announce Strike on 21 and 22 April

The bank's most recent transfer policy has drawn harsh criticism from the All India UCO Bank Officers' Federation (AIUCBOF), which describes it as "anti-officer" and a willful attempt to restrict workers' rights. General Secretary Sandeep Chowbey has written to the Managing Director and CEO of UCO Bank, requesting that the updated transfer policy, which was issued on March 29, 2025, be immediately withdrawn and that officers' employment conditions be improved.

Frustrated by the lack of response from the management, AIUCBOF has announced a nationwide organizational agitation starting April 2, 2025, and a two-day strike on April 21-22, 2025. The union has warned that further action may be taken if their grievances are not addressed. The federation has raised several objections regarding the transfer policy, such as:

• Unilateral Changes: The policy was revised twice in five months without incorporating officers’ inputs.
• Deterioration of Service Conditions: Key provisions, such as repatriation rules, transfer exemptions, and work-life balance considerations, have been altered against officers’ interests.
• Anti-Lady Officer Provisions: AIUCBOF has accused the bank of not implementing transfer benefits for female officers in the true spirit of the policy.
• Reduction in Maximum Retention Period: The allowed tenure has been reduced from 13 years to 8 years, causing distress among officers.
• Unfair Performance-Based Transfers: The bank has linked punishment transfers to performance, a move AIUCBOF calls subjective and prone to misuse.

Attack on Trade Unions Alleged

The union has also accused the bank of attempting to weaken trade unions by reducing exemptions for office bearers and introducing arbitrary restrictions on union leaders’ tenure. AIUCBOF warns that this move threatens the democratic representation of officers within the bank. Apart from the transfer policy, AIUCBOF has highlighted other longstanding issues, including:

• Acute staff shortages, forcing officers to perform clerical duties.
• Excessive work hours and unpaid overtime leading to health hazards.
• Workplace harassment, including misbehavior from senior management and punitive transfers for raising concerns.
• Lack of financial relief, such as TDS absorption on perquisites, despite other banks providing this benefit.

AIUCBOF has urged UCO Bank to reconsider the policy and hold discussions with officers before implementing any changes. The federation maintains that officers in Scales I, II, and III are crucial in driving the bank’s business and should not be subjected to arbitrary policies that undermine their rights. With the April 21-22 strike looming, the ball is now in UCO Bank management’s court to address officers’ grievances and avoid disruption in banking services.

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Latest Update on Bank strike -Why Strike Deferred?

Today, a meeting of UFBU and Bank Unions was held with the government representatives. Earlier, meeting was held on 18.03.2025 but any decision would not be arrived at. So next meeting was scheduled for 21.03.2025. Today, the meeting was attended by Bank Unions, IBA and Bank Management. As per the details available, the strike has been deferred. Consensus has been reached for most of the demands.

The adjourned conciliation meeting took place today from morning. There was serious discussion on our demands. Iba and DFS were present. 

Joint secretary of DFS spoke on video call and informed about the positive discussion FM and DFS secretary had on the issue of 5 Day banking. Iba proposed to further discuss issues like recruitment and PLI and other issues. 

CLC informed that he will directly monitor the issues includi ng implementation of ,5 days banking. The meeting has been adjourned to be held again in the third week of April. 

In view of this positive development it was felt necessary to postpone our strike for a month or two. Units are thus informed that our strike on 24th and 25th is postponed. Detailed circular being issued. UFBU.

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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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UFBU announced two days strike in PSU Bank

The United Forum of Bank Unions has declared a two-day strike for March 24 and 25, 2025. The union has made proposals for public sector banks to implement five-day banking and hire enough employees. The union's demands and the strike timeline are listed below.

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Agitation and Strike call by AIBEA

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AIBOC Announced Nationwide Bank Strike

In a significant move to address pressing challenges faced by the banking sector and its members, the All India Bank Officers’ Confederation (AIBOC) has announced a two-day nationwide strike, tentatively scheduled for February 24 and 25, 2025. This decision was finalized during the 102nd Executive Committee Meeting held on January 6, 2025, via a virtual platform.

Key Demands Raised by AIBOC

• Adequate Recruitment: Address the shortage of staff across all cadres in banks.
• Five-Day Work Week: Implement a five-day work week for the banking industry.
• Withdrawal of DFS Directives: Demand the immediate withdrawal of the Department of Financial Services (DFS) directives on performance reviews and the Performance Linked Incentive (PLI) scheme, which threaten job security, create divisions among employees, and undermine the autonomy of public sector banks (PSBs).
• Safety of Bank Staff: Ensure protection for bank officers and staff against customer assaults and abuses.
• Fill Vacant Posts: Expedite the appointment of workmen and officer directors in PSBs.
• Resolution of Pending Issues: Resolve residual issues with the Indian Banks’ Association (IBA).
• Amend the Gratuity Act: Increase the gratuity ceiling to ₹25 lakhs, similar to government employees’ schemes, and provide income tax exemptions.

Issues Opposed by AIBOC

• Micromanagement of PSBs: Stop undue interference by the DFS in policy matters, which undermines the autonomy of PSB boards.
• Unfair Labour Practices: End discriminatory and exploitative practices in the banking industry.

The executive committee has proposed to initiate agitation programs immediately after serving the strike notice later this month. Detailed schedules will be shared with all state units and affiliates.

AIBOC leaders have urged all affiliates to prepare for the upcoming struggle by conducting meetings at all levels to communicate the resolutions. Members are encouraged to organize grassroots-level engagements at district and branch levels to strengthen unity and foster commitment to the movement.

Addressing members, AIBOC leaders said, “The path ahead is challenging, but our collective strength and solidarity will guide us. History has shown that we can overcome adversity through unity and determination. Together, we will safeguard our legitimate rights and uphold the integrity of the banking sector.”

The banking fraternity is now gearing up for a significant battle to ensure justice and fairness for employees while protecting the sector’s autonomy and stability. Further updates will follow as the agitation programs unfold.

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Bank Officers Union announces All India strike against New Transfer Policy

The All India Bank of Baroda Officers’ Association has declared a strike in protest against the bank management’s new anti-officer transfer policy. According to the circular, officers who have completed 6 years in the officers’ cadre within their current zone can request a transfer to another zone of their preference after this period. The union views this policy as unjust due to the lengthy 6-year duration and is demanding a reduction in the required duration.

The BOB Officers’ Union has threatened an All India Strike if the revised transfer policy is not revoked. They argue that the current policy imposes undue hardship on officers and are advocating for a more flexible approach to transfers.

• Black Badge/Black ribbon wearing from Monday, 29th April.

• Submission of Memorandum to all Regional Heads addressed to our Bank’s MD&CEO by team of Office bearers/Activists on 30th April 2024 evening.

• Demonstrations outside all Regional Offices on one evening during the period 1st May to 4th May 2024, taking into account the election model code of conduct as applicable in the relevant area.

• All India Strike on 7th June 2024, after General Elections are over. In the meantime, we shall serve Strike Notice to the Bank.

The last year transfer policy/IZT were exercised with criteria of 3 years for lady officers and 4 years for Male officers and now with policy being changed to 6 years, the sudden increase in the minimum relaxation tenure for this IZT(Inter Zone Transfer) exercise is creating panic among the officers and demoralising concerned officers and their family members, who have been posted outside the parent zone during previous IZT exercises.

Earlier officers with age of 55 are eligible for retransfer to their parent zone or to the zone of their choice, now in this IZT policy the age criteria has been increased to 58 years which is ruthless.

The IZT policy eligible period for the employees being 6 years is very long and staying away from families is unbearable, which adversely impact family life of the officer’s.

Since 2019 there is no recruitment in Bank and all previous IZT batches have been retransferred with 3 / 4 years ( lady staff 3 years) criteria, Management’s sudden shift to 6 Years minimum tenure is demoralizing officer employees as there is no work life balance in our bank due to IZT Transfers.

Many of the lady officers were undergoing fertility treatments and still were transferred midway and suffered due to delay in treatment due to IZT Still there are some officers whose IZT request has been rejected in earlier IZT exercises for shortage of a day or two with respect to the cutoff date. But these officers has been identified by the Management during the IZT 2019-20 and relieved late by the respective zonal office/regional office which in turn effected the officers during retransfer to the parent zone.

The Management is thinking that they have given enough concession for women and men under the IZT policy but they have forgotten that most of the employees who have undergone IZT posting have been undergoing physical and mental agony, since many of the officers have left their families back at their parent zone due to health problem of parents/in laws, nontransferable employment of spouse, education problem of children etc. This IZT policy has further demotivated and shut down the hope of these officers of getting back to their family.

Every year all the officers of the bank are obeying the instructions of the top management and undergoing the IZT even though they are facing some personal problems with a hope that they will be transferred back to the parent zone after completion of 3 years’ service.

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6 Days Nationwide Bank Strike In December in Banks

Bank branches will remain closed for upto 6 days in December owing to bank strikes being called by banking union. The All India Bank Employees' Association (AIBEA) has announced that it will go on strike on various days in the month of December 2023, demanding adequate recruitment and opposing outsourcing of permanent jobs.

AIBEA general secretary C H Venkatachalam had pointed out via his tweet that unemployement has risen significantly since 2019 to 2023, demanding adequate reqruitment in all banks and opposed outsourcing of regular jobs.

AIBEA said that in the month of December 2023, the banking association will go on for 6 days strike. Check out the following dates:

December 4: There will be an all India bank strike in Punjab National Bank (PNB), Punjab and Sindh Bank and State Bank of India (SBI)

December 5: There will be an all India bank strike in Bank of Baroda and Bank of India

December 6: There will be an all India bank strike in Canara Bank and Central Bank of India

December 7: There will be an all India bank strike in Indian Bank and UCO Bank.

December 8: There will be an all India bank strike in Union Bank of India and Bank of Maharashtra

December 11: There will be an all India bank strike in all Private Banks.

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Why PSU bank employees strike on 27th June defer

In a significant move, bank unions on Thursday agreed to drop their earlier announced all-India strike call for June 27. The decision came during a conciliatory meeting held in the Capital under the chairmanship of the Chief Labour Commissioner S C Joshi, on Thursday.

The conciliatory meeting held on June 21 had remained inconclusive and the unions stood by their strike call. The CLC had called for another conciliatory meeting on June 23 to prevent the strike.

There was a change of stance by the bank unions at Thursday’s conciliatory meeting after the IBA agreed to commence negotiations on their demands from July 1.

“Another round of conciliation meetings was held today in Delhi by CLC. We reiterated our demands. IBA agreed to commence negotiations on our demands on July 1. Hence, it is decided to defer our agitation and strike on June 27,” C H Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA), told BusinessLine after the meeting.  

The breakthrough is significant as the IBA has not been communicating with the bank unions for the last one-and-a-half years, sources said. 

The Indian Banks’ Association (IBA) was represented by Brajeshwar Sharma, Senior Advisor (HR & IR), at today’s meeting, while the Department of Financial Services (DFS) was represented by Deputy Secretary Kul Bhushan Nayyar. Representatives of both Catholic Syrian Bank and Singapore-headquartered DBS Bank were also present at the meeting. 

The United Forum of Bank Unions (UFBU), a representative body of nine bank unions, had given the strike call for June 27. The All India Bank Employees’ Association (AIBEA) is one of the nine unions which form part of the UFBU.

The main demands of the unions include introduction of five-day banking (all Saturday and Sundays  to be holidays) and scrapping of NPS for post April 2010 employees/officers and implementation of the old pension scheme for them. 

One other demand is to extend wage revision in CSB Bank (Catholic Syrian Bank ) and DBS Bank (formerly Lakshmi Vilas Bank), sources said. 

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RBL Bank says banking operation may be hit due to 2-day strike

RBL Bank today said some of its branches would also be impacted by the strike call given by bank unions on March 28, 2022, and March 29, 2022. “The workmen unions represented by the All India Bank Officers’ Association (AIBOA), Bank Employees Federation of India (BEFI) and All India Bank Employees Association (AIBEA) had served the notice of strike declaring that their members propose to go on strike on March 28, 2022, and March 29, 2022, for the demands stated therein," the bank said in a statement.

The Ratnakar Bank Officers’ Organisation and Ratnakar Bank Employee Union of our Bank are affiliated with the AIBOA and AIBEA, respectively. RBL Bank has said the employees of the bank associated with the aforesaid unions may participate in the strike.

Private sector RBL Bank this week said the Reserve Bank has granted an extension of three months to its interim MD and CEO Rajeev Ahuja. "We wish to further inform that on request of the Bank, RBI vide its letter dated March 17, 2022, has approved the extension of the term of Rajeev Ahuja, interim Managing Director & CEO of the Bank for a further period of three months with effect from March 25, 2022, or till the appointment of a regular MD & CEO, whichever is earlier," RBL Bank said in a regulatory filing.

On December 30, 2021, the private sector lender had said the Reserve Bank had approved the appointment of Ahuja as interim managing director (MD) and CEO for a period of three months with effect from December 25, 2021, or till the appointment of a regular MD and CEO. The RBL Bank stock closed at ₹136.45, up ₹3.1 or 2.32 per cent, on the National Stock Exchange on Friday.

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Bank unions given call for two-day nationwide strike against proposed privatisation of PSBs

 

The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from December 16 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan.

The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years.

The government has listed the Banking Laws (Amendment) Bill, 2021, for introduction and passage during the current session of Parliament.

In view of this, UFBU has decided to oppose the move for privatisation, All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said in a statement.

Strike notice for December 16 and December 17, 2021, has been served by UFBU on the IBA, he said.

Hence, he said, for the past 25 years, under the banner of UFBU "we have been opposing the policies of banking reforms which are aimed at weakening public sector banks".

Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA) and Bank Employees Confederation of India (BEFI).

Others are Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).

In a developing country like India, where banks deal with huge public savings and they have to play a leading role to ensure broad-based economic development, public sector banking with social orientation is the most appropriate and imperative need, he said.

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