Bank employee unions urge Centre to implement 5-day work week
The United Forum of Bank Unions has urged the finance minister to consider its demand of a five-day work week favourably
In a proposal to Finance Minister Nirmala Sitharaman, the United Forum of Bank Unions (UFBU), has urged the Centre to implement a five-day work week in the banking sector.
In its representation, the UFBU has mentioned about the agreement reached between the bank unions and the Indian Banks’ Association (IBA), the apex body of banks, in December last year. The agreement led to a 17 percent hike in wages across all public sector banks in the country, amounting to Rs 12,449 crore, according The Economic Times.
The UFBU, an umbrella organisation of nine banking unions, has urged the finance minister to favourably consider their demand for a five-day work week. “You are well aware of the increasing stress under which the workforce in the banks are doing their job in the banks. Hence it would be in the fitness of things that the remaining Saturdays may also be declared as holidays,” the forum said in its letter to Sitharaman.
Expressing gratitude for the guidance and favourable consideration of their demands, paving the way for an early and speedy conclusion of the negotiations, the forum has sought the finance minister’s intervention in this regard.
“One of the issues in the current negotiations, as you are also aware, has been the introduction of 5 working days in a week for the Banks. In the Settlement that concluded in 2015, it was agreed that the second and the fourth Saturdays of month would be observed as bank holidays. It was also agreed to consider our demand for declaring remaining Saturdays as holiday at a later stage after implementing the provision for holidays on 2 Saturdays in a month,” the forum said in its letter which it also posted on X.
The forum further says that a five-day work week is already in vogue at the RBI and the LIC, assuring that its implementation of the same will not impact the regular working hours of the banks.
“We shall thank you to consider the matter favourably and advice the IBA to proceed further in this regard,” the forum said.
At present, banks remain close on the second and fourth Saturdays in a month across the country.
