UFBU CIRCULAR : After the Gazette notification by Government on 21-
11-2025 on implementation of the four Labour Codes in replacement of
the 29 existing labour laws, a lot of apprehensions and concerns have
been raised amongst the trade unions and employees at large. In this
background, the Department of Financial Services, Ministry of Finance
contacted us and desired a meeting with the UFBU to understand our
concerns.
Accordingly, today, DFS held a meeting with UFBU representatives in
their office in New Delhi. From DFS, Mr. M Nagaraju, Secretary, along
with Ms. Shalini Pandit, Joint Secretary, Mr. Mohd. Ashraf, Dy. Secretary,
Mr. Sanjeev Kumar Mishra, Under Secretary and Mr. V.S. Tiwari, Under
Secretary participated in the meeting. From UFBU, all our
representatives were present.
From DFS, they wanted to know and understand the concerns of the
Unions about the new Labour Codes. From our side, we pointed out that
labour rights in our country have evolved over the years due to the
continuous efforts of the trade union movement and working class. We
informed that while improvements and changes in the labour laws are
necessary according to changing needs and aspirations, the same have
to be undertaken in consultation with the Central Trade Unions.
We pointed out that the youth of our country need regular and
permanent jobs and hence the labour laws should promote the same
instead of encouraging contractual jobs. We also pointed out that while
the Labour Code talks of payment of gratuity after one year’s service,
our demand for increasing the limit to Rs. 25 lacs has not been acceded
to. We further said that while some of the provisions and procedures
under the existing labour laws need simplification, it should not result in
dilution of any of our existing labour rights.We reiterated our view that the Labour Ministry should engage in
discussion with the Central Trade Unions and ensure that any change in
labour laws is undertaken after due consultation process.
Other issues : Taking advantage of the meeting with the Secretary,
DFS, we brought to his attention our pending issues like implementation
of 5 Days Banking, filling up of posts of Workman and Officer Directors
in PSBs, adequate recruitments of clerical, substaff and security staff in
the Banks, updation of pension, premium on Group Medical insurance
Policy for retirees to be borne by Banks, etc.
We also informed the Secretary, DFS that UFBU is always for
strengthening our public sector banks and would be willing to submit our
views and suggestions towards the same and for which the DFS may
hold meeting with the UFBU.