5 Day Banking: AIBEA issued Clarification on 5 Day Banking, What happened in meeting?

Recently, UFBU has deferred the scheduled Bank Strike on 24 and 25 March 2025. The strike was being held due to non-fulfillment of various demands such as 5 Day Banking, Adequate recruitment in Banks, etc. A conciliation meeting was held on 21.03.2025 at the office of Chief Labour Commissioner (CLC) with IBA, DFS and Bank representatives and the strike was deferred.

As soon as the strike was deferred, Bank employees all over the country started criticizing the decision of UFBU as DFS gave no solid confirmation regarding 5 Day Banking. Click here to read what CLC said about 5 Day Banking. Now, AIBEA has issued clarification regarding 5 Day Banking.

What AIBEA said about 5 Day Banking?

There was elaborate discussion on introduction of 5 Day Banking per week. We pointed out that even though our Bipartite Settlement/Joint Note was signed one year ago in March, 2024, the issue still remains pending with the Government to whom the IBA has recommended. We explained that keeping the issue pending for such a long time amounts to ignoring the sanctity of the bilateral settlement arrived between the IBA and UFBU. We also pointed out that in the present scenario where employees and officers/Managers in the Banks work under a lot of stress and strain, many times, working beyond normal working hours, the demand for 2 days of weekly off has become a necessity. IBA replied that as per the Settlement/Joint Note, they have recommended the matter to the Government and they are awaiting their approval. When pointed out by CLC that IBA should follow up the matter with Government, they assured that they would pursue the matter with Government for getting their due approval. DFS representative stated that the issue is under consideration but cannot commit any timeline. Hence there was virtual stalemate on this issue. Hence, the Chief Labour Commissioner wanted some senior officials from the DFS to participate in the conciliation meeting to know the stand of the Government to end the stalemate. Even though all the top officials of the DFS were busy with the proceedings of the ongoing Parliament Session, a senior Joint Secretary of the DFS participated in the meeting via video conference and clarified that the matter is receiving the serious attention of the Government including by the Finance Minister. We conveyed our disappointment over the undue delay in the matter and wanted the Government to expedite the process. He assured that the matter is already receiving the serious attention of the Government including at the level of Finance Minister and hence requested the UFBU to reconsider our call.

What this means?

The demand for a 5-day banking workweek is both reasonable and necessary, considering the increasing workload, stress, and extended working hours faced by bank employees. AIBEA rightly pointed out that the delay in implementation undermines the bipartite settlement between unions and the IBA. While AIBEA has rightfully pushed for immediate action, the Government’s vague responses indicate that it may require further pressure, public awareness, or stronger agitation to expedite the approval. Employees deserve fair working conditions, and a 5-day workweek is long overdue. The onus is now on the Government and IBA to deliver on their commitments rather than prolong the process.