Bank Staff Seek 5-Day Week Approval from Finance Ministry
The United Forum of Bank Unions (UFBU), an umbrella body of bank staff associations, has urged Finance Minister Nirmala Sitharaman to permit all commercial banks to transition towards a 5-day working week from the current regimen requiring work on a few Saturdays too.
In a letter to the minister, UFBU also affirmed implementing the 5-day schedule need not necessitate any decrease in customer operating hours or employee workdays. The forum requested her intervention for the Indian Banks Association’s (IBA) concurrence.
Customer Service Hours to Remain Same
UFBU clarified that despite migrating to 10 working weeks annually against earlier 47-48 weeks requiring Saturday operations, overall productive work hours will be realigned with customer contact periods remaining constant during weekdays plus previously operational Saturdays now becoming rest days.
This fulfills bank staff’s long-standing demand for extended weekend personal time in line with comparable industries. IBA and the finance ministry have remained reluctant to endorse the move so far citing potential impact on banking activities.
Assures five-day switch won’t cut service or work hours
Additionally, 9 lakh public sector bank (PSB) employees await the Centre’s approval on a 17% wage hike agreed between IBA and unions in 2023 as part of 10th Bipartite Settlement. If cleared, it will release nearly Rs 12,500 crore in arrears.
