Public sector banks (PSBs) across India may face a two-day nationwide strike next month, tentatively scheduled for February 24 and 25, 2025. The strike, called by the All India Bank Officers' Confederation (AIBOC), aims to address a range of demands critical to banking staff and the broader financial sector.

Key Demands Highlighted by AIBOC

The AIBOC, representing supervisory bank employees, has outlined several pressing demands, including:

• Introduction of a Five-Day Workweek: The union is pushing for a five-day work schedule for banking employees, a long-standing demand yet to be implemented.
• Adequate Recruitment Across All Cadres: The union calls for sufficient hiring to address staff shortages and improve service efficiency.
• Withdrawal of DFS Directives: Recent performance review policies and Performance Linked Incentives (PLI) introduced by the Department of Financial Services (DFS) have been criticized for threatening job security and creating divisions among employees.
• Amendment to the Gratuity Act: The union seeks to raise the gratuity ceiling to ₹25 lakh, along with tax exemptions similar to those provided to government employees.
• Protection of Bank Employees: Ensuring safety against workplace assaults and abuse by customers has been emphasized.
• Filling Vacant Board Positions: AIBOC has demanded the immediate appointment of workmen and officer directors in public sector banks.

Reasons Behind the Strike

The strike announcement follows the AIBOC’s 102nd Executive Committee Meeting on January 6, 2025, which ratified earlier resolutions made in November 2024. Union leaders have raised concerns over micro-management of PSBs by the DFS, stating that it undermines the autonomy of bank boards.

In addition, the union expressed dissatisfaction over the delay in declaring all Saturdays as holidays, despite recommendations by the Indian Banks’ Association (IBA) to the government.

Timeline of the Strike

The AIBOC announced its intention to begin agitation programs immediately after issuing the strike notice this month. If the demands are not addressed, the union warned of potentially more stringent actions beyond the proposed strike.

In 2024, the AIBOC had previously warned of collective action if the delay in addressing key demands persisted. The union argues that unresolved issues with the IBA, combined with recent policy decisions, are eroding the morale and autonomy of banking professionals.

The proposed strike aims to draw attention to these grievances, with AIBOC urging authorities to act swiftly to prevent disruptions in the banking sector.