Are banks open on March 24? United Forum of Bank Unions strike update inside

After being given assurances on their demands by the Finance Ministry and the Indian Banks' Association (IBA), the United Forum of Bank Unions (UFBU), a collective that represents more than eight lakh bank employees, agreed to call off their two-day nationwide strike. The Chief Labour Commissioner decided to defer the strike after calling all the parties for a consultation meeting on Friday.

The Centre said that the union would deliberate on the demands raised by the workers, which led to the cancelling of the early next week strike. Prior to the announcement of a statewide two-day strike on March 24 and 25, the forum called for reforms in the banking industry, such as improved hiring procedures, regularization of temporary workers, and the adoption of a five-day workweek.

"Banking services will be interrupted for four days beginning on March 22. March 23 is a bank holiday, and March 24–25 is a strike," Pankaj Kapoor, vice president of the All-India Bank Officers Confederation (AIBOC), told ANI. As a result, beginning on March 22, financial services such as clearing houses, cash transactions, remittances, and advances will be impacted for four days.