In the recent meeting of UFBU with IBA, DFS and Bank Management, no solid decision was taken related to 5 Day Banking. The meeting was held on 21.03.2025 and next meeting will be held in April 2025. But the Bankers across the nation are not happy with the decisions and the slow progress.
In the official communication released by Office of Chief Labour Commissioner, Ministry of Labour & Employment, Government of India, a vague decision was written related to 5 Day Banking.
What Office of Chief Labour Commissioner said?
The office of Chief Labour Commissioner said –
In the fact and circumstances mentioned above, the Chief Labour Commissioner(C) requested the Ld. Union representatives to consider the request of withdrawal of strike as it is neither in the interest of employees nor in the interest of the organization and the nation as a whole. It is also assured by the CLC(C) that if the strike is withdrawn by the Ld. Representatives of the union, he shall take up with the IBA and DFS to consider 5 day working in the 12th Bipartite Settlement / 9th Joint Note agreed upon by the IBA with the unions/ Associations. The CLC (C) also assured that he will monitor the development at periodic interval so that matter may be resolved at an early date.
In view of the above, the Ld. Representatives of United Forum of Bank Unions considered the request of the CLC(C) and agreed to defer and postpone the strike. The next date of hearing is fixed on 22.04.2025 at 11.30 am with an advise to IBA to submit the progress report.
What about 5 Day Banking?
The statement mentions that the Chief Labour Commissioner (CLC) assured that if the strike is withdrawn, he would discuss with the Indian Banks’ Association (IBA) and the Department of Financial Services (DFS) the possibility of implementing a five-day workweek under the 12th Bipartite Settlement and 9th Joint Note. However, no final decision was made, and the matter was postponed for further discussion in the next hearing on April 22, 2025.
The 12th Bipartite Settlement was signed in March 2024 with clause of 5 Day Banking. IBA said that the proposal of 5 Day Banking is lying with the government for clearance. But it has been over 1 year but the government has not yet implemented 5 Day Banking.
Almost, majority of the banks in developed nations work for only 5 Days a week. But in India, Bankers are still denied 5 Day Banking. In India, other government departments such as ministries, LIC, insurance companies, RBI, SEBI, NABARD, state government offices, operate for only 5 Days a week. This has created a feeling of dissent among the bank employees.
Now, again with the postponement of strike, the implementation of 5 Day Banking is in question. The CLC said that discussions will be held regarding 5 Day Banking. It’s been over 1 year but only discussions are going on and no solid decision has been taken. As of now, it appears that 5 Day Banking will not be implemented soon. Bank Employees will have to struggle a lot to achieve this feat.
