The All India Bank Officers’ Association (AIBOA) has made several demands ahead of a two-day nationwide bank strike on March 24 and 25, 2025. The union has urged the government to halt the disinvestment of Indian Bank of Development and Industrialization (IDBI) and Life Insurance Corporation (LIC) equity to private entities and instead, dilute its stake in five public sector banks (PSBs). AIBOA’s General Secretary, S Nagarajan, claimed that PSBs are nation-building instruments and should not be sold to private entities.
The union also demanded the merger of Nainital Bank with its parent Bank of Baroda, adequate recruitment in all cadres, and the implementation of a 5-day week in the banking industry. Nagarajan stated that PSBs have made significant progress in opening Jan-Dhan accounts and mobilizing deposits, but recruitments have not kept pace with business growth. The strike notice was sent to the Indian Banks’ Association and the Chief Labour Commissioner (Central).
Nagarajan emphasized that the government’s plan to dilute its stake in Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India, and Punjab & Sind Bank should be shelved. He also called for the honoring of the recommendations of the Committee on Petitions and RBI in the case of Nainital Bank’s merger with Bank of Baroda. The union has given a call for the strike, which is part of the United Forum of Bank Unions.