Feature Post

UFBU Calls Off Nationwide Bank Strike on 24th and 25th Mar 2025 After Assurances from Finance Ministry and IBA

I n a significant development on March 21, 2025, the United Forum of Bank Unions (UFBU) has decided to call off their two-day nationwide strike, which was originally planned for March 24 and 25. This decision was made after the UFBU received positive reassurances from both the Finance Ministry and the Indian Banks’ Association (IBA) regarding their key demands. The banking unions, under the umbrella body of UFBU, represent employees from nine major unions across the country, including AIBEA, AIBOC, NCBE, AIBOA, and BEFI. The unions had earlier called for the nationwide strike to protest against several ongoing issues that they believe impact the welfare and job security of bank employees. Key Issues Behind the Proposed Strike The strike was initially called by UFBU to address a range of pressing concerns, some of which have been lingering for years. The union's main demands included: Five-Day Workweek for Bank Employees:  One of the most anticipated demands was the implementation o...
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Banking and Technology

There was time when visiting branch was the only option to do any transaction in bank.But with the advancement of technology, scenario has been changed now. Alternative channels are becoming more popular. People started feeling more comfortable doing transaction through ATM, Internet Banking, Mobile Banking, Telephone Banking rather than by visiting branch. But percentage of people to avail these services is very less. As number of banks are increasing, competition between them is also increasing. Consequently, every bank trying to attract customer through providing lucrative better, faster and wide variety of services. But all these possible only due to advancement in technology. Thanks to people those are involved and doing good in technology development. But to reach out to wide area of population, awareness need to be made in parallel of technology development and technology adoption. Then only use of technology in banking will be useful.

 Although with the adoption of technology, banks are now able to provide better services to customers and able to reduce cost and also able to manage huge transaction volume. Risk also has been increased with many fold that need to be addressed to keep trust of bank and banking services among customers.  

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