Five-day banking week was never agreed, say govt sources

Bank unions are set to go ahead with a three-day nationwide strike over their demand for a five-day working week. However, government sources have said the issue was never part of wage negotiations with bank unions, according to a Business Today report.

The unions have been seeking a Monday-to-Friday working week, citing long working hours for bank employees. The United Forum of Bank Unions (UFBU), which claims to represent around 90% of the banking workforce, has called for the strike from September 28 to 30.

According to the report, senior government sources said the five-day working week was neither agreed upon nor used as a negotiating point during earlier wage discussions with bank unions.

The government’s position comes even as bank unions maintain that the five-day week has been under discussion for more than two years.

Bank employees currently get holidays on the second and fourth Saturdays of every month. The unions are seeking a full five-day working week from Monday to Friday.

The unions have also pointed out that the Reserve Bank of India and the Department of Financial Services follow a five-day working week.

Government sources said the Centre had already agreed to several demands raised by bank unions during the previous round of wage negotiations in 2022. This included the issue of family pension.

The government has also decided to keep the proposed performance-linked incentive (PLI) scheme in abeyance.

The Finance Ministry, in a recent statement, said one of the two major demands raised by the unions had already been addressed. It also referred to the one-day strike held on September 11 and the three-day strike planned for September 28 to 30.

The ministry also said an indefinite strike had been proposed from October 26 over the five-day working week demand and appealed to bank employees to ensure that banking services remain uninterrupted.

Despite the government's position, bank unions continue to make a five-day working week their key demand.

The unions contend that the 12th bipartite settlement had formally committed to a five-day banking week. The government, however, maintains that the issue was never agreed upon during wage negotiations.

The dispute comes ahead of the three-day strike scheduled from September 28 to 30, with the five-day working week remaining the central point of disagreement between the two sides.- EndsWith inputs from Surabhi, Business Today