Bank Strike: Banks to Shut for 4 Days in March Due to Strike – Check the Dates & Reasons

Bank Strike: The banking sector in India is set to witness a major disruption as banks will remain closed for four consecutive days in March due to a combination of weekend holidays and a two-day nationwide strike called by the United Forum of Bank Unions (UFBU). If you rely on in-person banking services, it’s crucial to plan your transactions in advance.

The bank strike will impact millions of customers, affecting cash withdrawals, deposits, cheque clearances, and other banking transactions. Let’s break down everything you need to know about this bank strike, including the dates, reasons, and how to prepare.

Banks to Shut for 4 Days in March Due to Strike

The upcoming bank strike from March 24-25, 2025, coupled with weekend holidays, will lead to a four-day banking shutdown. Customers and businesses should plan financial transactions in advance to avoid inconvenience. While digital banking services like UPI, net banking, and card payments will remain operational, cash transactions and cheque clearances may face delays.

By staying informed and preparing ahead, you can ensure that your financial activities remain uninterrupted during the strike period.

Why Are Banks Going on Strike?

The United Forum of Bank Unions (UFBU), an umbrella organization representing nine major bank unions, has called for a two-day strike on March 24 and 25. This decision follows failed negotiations between the Indian Banks’ Association (IBA) and bank unions over key demands.

Key Reasons for the Strike

1. Demand for a Five-Day Workweek

Bank employees are pushing for a five-day workweek, similar to government offices, RBI, and insurance companies. While Saturdays have been partially off since 2015, unions want a full five-day work system.

2. Staff Shortages & Workload Pressure

• Banks are facing a severe manpower crisis due to lack of recruitment.
• Employees are often overworked due to growing customer demands and digital banking challenges.
• Unions demand immediate hiring to maintain service efficiency.

3. Job Security for Contractual & Temporary Employees

• Many temporary workers remain in precarious job positions.
• Unions seek regularization and permanent employment status for such workers.

4. Opposition to Performance-Based Pay System

• Unions argue that recent policies on incentives and performance ratings could lead to job insecurity and favoritism.
• They demand a transparent salary revision system aligned with inflation and job stability.

5. Higher Gratuity & Pension Benefits

• Unions want the Gratuity Act limit raised to ₹25 lakh to match government employee benefits.
• They also seek pension scheme improvements to support retired bank employees.

6. Resistance to Bank Mergers & Privatization

• Unions strongly oppose the privatization of public sector banks.
• They argue that mergers lead to job losses, branch closures, and reduced rural banking services.

How Will the Bank Strike Affect Customers?

While digital banking will remain operational, the following services will be affected:

What Services Will Be Unavailable?

• In-branch services (deposits, cash withdrawals, cheque clearance)
• Loan processing (sanctioning and approvals may be delayed)
• Cheque clearances & RTGS/NEFT processing delays
• ATMs may run out of cash due to increased demand
• Customer support at physical branches will not be available

What Services Will Work?

• Online banking, UPI, and digital payments will function as usual.
• ATM withdrawals (subject to cash availability)
• Credit/Debit Card transactions for online and offline purchases

How to Prepare for the Bank Strike?

Here are some practical tips to ensure your financial activities remain unaffected:

Complete Important Banking Transactions in Advance

• If you have urgent bank work, complete it before March 22 to avoid inconvenience.
• Plan your salary withdrawals, cheque deposits, and loan EMIs accordingly.

Withdraw Sufficient Cash in Advance

• Since ATMs may run out of cash, withdraw the required amount before March 22.

Use Online Banking & UPI Payments

• Net banking, mobile banking, and UPI transactions will remain active.
• Ensure your internet banking is set up to avoid reliance on in-person services.

Reschedule Business Transactions

• If your business relies on bulk fund transfers, RTGS, or NEFT, plan ahead to avoid delays.

Be Aware of Loan Repayment Deadlines

• If your loan EMI is due during these strike days, ensure it is paid in advance to avoid penalties.

Impact on Businesses & Economy

Possible Effects on the Indian Economy

• Stock Market & Trading: Delayed payments may impact liquidity in the market.
• Small & Medium Enterprises (SMEs): Limited banking support could cause delays in transactions and salaries.
• Retail Sector: Cash-based transactions might suffer due to ATM shortages.

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Frequently Asked Questions (FAQs)

1. Will all banks be closed during the strike?

Yes, both public sector and private sector banks will be affected. However, digital banking services will continue as usual.

2. Will ATMs work during the strike?

ATMs will function, but due to high demand, some may run out of cash. It’s advisable to withdraw money in advance.

3. Can I still do UPI and net banking transactions?

Yes, UPI payments, net banking, and mobile banking will work normally.

4. What should businesses do to avoid disruptions?

• Complete bulk transactions before March 22.
• Use digital payment options instead of relying on cheques.
• Keep emergency funds ready for cash-based transactions.

5. Will salary credits be delayed due to the strike?

If your company processes salaries via NEFT/RTGS, there may be delays. Employees should confirm with HR if payments will be processed before the strike.