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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Non-Resident External Rupee Account



-> Permitted Currency - Indian Currency

-> Deduction of Tax at Source - Fully Exempted

-> Eligible to Open Account

1. National Resident Indian (NRI) and Person of Indian Origin (PIO)

2. Students gone abroad for higher study and continuing to stay there

3. Indians who are on deputation in abroad by Central or State government or public sector undertakings or working with an international agencies on assignments with foreign govt, IMF, WHO or economical/ social council.

4. Crew members of Indian Nationality or Indian Origin employed in foreign airlines or shipping companies, who are based at foreign ports and reside abroad

5. Crew members of Indian Airlines or Shipping companies who are posted abroad for performing duties

NB - Person of Indian Nationality or origin resident in Nepal are eligible for NRE account only if the remittance for opening and funding the account are remitted in any of the permitted currency expect Indian and Nepalese Rupees.

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