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...
0

Banking Ombudsman



The Reserve Bank had first introduced the Banking Ombudsman Scheme in 1995 to provide prompt and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services in India.

Scope - Customer complaints on credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks operational in India. 
  • Established by Reserve Bank Of India under section 35A of Banking Regulation Act.
  • Applies to Jammu & Kashmir also
  • Chief General Manager or General Manager is known as Banking Ombudsman
  • There are 21 offices of Ombudsman in India
  • Ground of Complaints - Service & Guidelines of RBI
  • Maximum Award - 20 Lacs
  • In case of Credit Card - Maximum award is 1 lac only
  • Award has to be accepted by Complaint within 30 days.
Latest updates are available at https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=159

Comments

Post a Comment