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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Atal Pension Yojna (APY)


GOI social security scheme for unorganized sectors workers w.e.f. 01/6/2015

Administrated by

- PFRDA (Pension Fund Regulatory and Development Authority)

- NSPL (National Security Depository Ltd) - Act as CRA(Central Record keeping Agency)

- Institutional framework of NPS utilized for enrolling the subscribers.

Banks - Nodal Agencies

Non Bank i.e NBFC, MFIs- Business facilitators to bank.

Eligibility Criteria & Important Points Regarding APY



1) All the citizens of the country in the unorganized sector.

2) Age 18-40 years

3) Date of the birth proof mandatory

4) Valid mobile number mandatory

5) Open to all bank a/c holders who are not member of any statutory social security scheme.

6) Even they can join but will not get GOI contribution

7) Payment frequency-monthly/quality/half yearly

8) Minimum Contribution - 20 Years

9) Pension Start at - 60th Year

10) Payment Discontinuation - 

After 6 Months - Account will be frozen

        After 12 Months - Account Will be deactivated

        After 24 Months - Account will be closed

11) GOI contribution - 1000/- Rs or 50% of subscribers contribution for 5 years

12) Pension Range - 1000- 5000


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