We are pleased to inform you that 5 days banking has been confirmed, and as a result, banks will now remain closed on all Saturdays. This confirmation has been released by bank unions to its members, and reputable news websites have recently reported that the government is willing to approve 5 day banking and will make an announcement at an appropriate time. The formalities signing of the agreement will take place on 8th March 2024. A note regarding 5 days banking will be placed in 12th Bipartite Settlement (12th BPS) agreement. Please read below for full information.
There have been numerous speculations surrounding the inclusion of 5 days banking in the Joint Note/Bipartite settlement. The Indian Banks’ Association (IBA) has not provided any clarity or confirmation on the matter. In light of this, the All India Bank Officers’ Confederation (AIBOC) called for an urgent meeting of General Secretaries from all affiliated unions to discuss whether or not to sign the settlement without a mention of 5 days banking, which several other unions are ready to sign.
AIBOC’s Decision and Stand
During the meeting, it was unanimously decided that AIBOC would not sign the settlement without at least confirming the inclusion of 5 days banking in the joint note. This is because the officers in the banking sector are greatly affected by late working hours and having to work on holidays. After several rounds of discussions within the United Forum of Bank Unions (UFBU) and with the IBA, AIBOC has been successful in securing a similar notation/confirmation for 5 days banking in the joint note, similar to what was noted in the 2015 settlement where the 2nd and 4th Saturdays were declared holidays.
Positive Outlook and Progress
It is important to note that in the 2015 settlement, after such status was noted in the joint note, it was subsequently confirmed by the Reserve Bank of India (RBI) and a notification was issued by the government. Therefore, there is reason to believe that after obtaining a similar notation this time, the government will declare 5 days banking as well.
Other Improvements in the Settlement
In addition to the progress made regarding 5 days banking, various other aspects of the settlement are also being improved upon. The discussions held with all affiliated unions have resulted in an agreement to sign the joint note on 8th March 2024.
Acknowledgments and Appreciation
The AIBOC would like to express their gratitude to the rank and file of the All India Public Sector Nationalized Banks Officers’ Association (AIPNBOA) and AIBOC for their trust and support in the leadership’s firm stand on this matter. Without their unwavering support, this positive outcome would not have been possible.
Do not sign joint note without five day banking
Let us hope for the best.
What a load of BS
Then bank needs to reduce public holiday now.. Employees can’t have 5 days working + so many public holidays. Holidays should be restricted to 10 or 12 in a year then
Best answer but warking time is fix compulsory bank closed not branch time pass and party’
The time one gives for his own well being and good health are directly proportional.
Salary hike is very important but not more than a holiday which provides one time to spent with his/her family and exercise etc
Is it confirmed? Or hoping this?
Without 5day no sign.. otherwise mass resignation from union
Then bank needs to reduce public holiday now.. Employees can’t have 5 days working + so many public holidays. Holidays should be restricted to 10 or 12 in a year then
Do not sign joint note without five day banking
Don’t sign joint note without 5 day banking by all union.
We want 5 days banking
Then bank needs to reduce public holiday now.. Employees can’t have 5 days working + so many public holidays. Holidays should be restricted to 10 or 12 in a year then
Do not sign the joint note without 5day banking
Do not sign bipartite without 5 Days Banking
With the introduction of 5 day Banking it’s essential to reduce the general holidays announced by various state Govts declared under NI act. As of now some states are declaring more than 20 days such holidays. There’s a possibility that Banks will have to remain closed for 4-5 days continuously on certain occasions.
Digital India
One more strike to reduce the Holidays
One more strike to reduce the Holidays
Their business digital banking options opened for 365 days for your banking needs. Before implementation anything in India is always a big challenge but once introduced people get used to it. Eg article 370, banning of 1000 and 2000 etc
We need 5day banking in this settlement.
5 days banking necessary to balance work and life for Bankers.
Joint note will be signed with 5 days banking
Yes. 5 Days Banking is Must. No Compromise on that.
All these leaders are hopeless
they never sympathetic to pensionors
they always say that they will not sigh the due BPS without pension updation
and no commitment was fulfilled.
Is it for private banks also..
Once it has been agreed for five days banking at large among the concerned stakeholders, during the course of negotiations, there’s no point in delaying the same anymore and has to be implemented with the other points of agreements in letter and spirit.
We want 5day banking
Kudos to AIBOC for inclusion of notation of all saturdays off. Settlement is a legal document at least in respect of Award staff ( though in Officers case Joint note signed by Parties needs Govt approval ) and Govt shall be bound to notify all saturdays off in due course as was done when 2nd and 4th Saturday off was signed in Agreement.
Better close all days, make everything digital. We don’t need bank staff
Right response!!! Should’be implemented. There is only 25% work load after computerization. Send them home. Let them enjoy all 365 days!!!
Eat shit
Aao Kashi Haveli par
Kal pata chalega
Next year onwards RBI may announce list of bank working days for the year.
IT companies work on machine whereas bankers work with human. Already monitoring of credit suffer ( those days bankers allocate Saturdays for loan monitoring, contacting borrowers etc )
with reduced working hours monitoring will suffer, delinquency will go up and may result in more charge sheets to officers and managers.
Now they work 10 hrs a day which may go upto 12 hrs
5days working is best for bankers to have a balanced life
Nonsense news.. the matter has been agreed and signed between UFBU and IBA way back in 2023 and the central govt has to say the final word on this. Please understand its is huge policy decision which has a lot more stake holders. As the elections are nearing indont expect the positive news from the govt side. But we can hope for the same after the election.. anyhow this bipartite settlemnt has got nothing to do with 5 day implementation.
I wish that these banking staff would work efficiently. Wanting more and more holidays is fine. Efficiency is also expected. One has to phone thd bank and inform them that e mails have been sent and despite asking for acknowledgements , none are forthcoming yet these bankers want absolutely minute details to be put on paper for death claims and harass the customer before settling death claims. Besides their rude behaviouf. Time fir Indian bankers to work efficiently and uickly. No compromise. I wish there was a customers union as well.
Five days banking is a need of now
Alternate chanel,CSPs and several others are there for banking while Central government, LIC I’d working five days without any alternative.
Hereafter many bank staff will take leave on Fridays or Mondays to get 3 days in a row to visit outstation. Banking is an essential service. Not all departments can be handled by Alternative Channels. It is a harassment for public but joy for the bank staff. Our Finance Ministry should not submit to the demand for 5 day week in the interest of general public.
Bank staffs are also public. If not Holidays they should be provided extra wages for putting in extra hours.Do not consider them as machines.
If there is any service which is really pan India, it is only banking that is u can be transferred to any place in India, once u have joined the bank, so u stay away from ur home town for most of the service
Having 5 day week will help bankers to goto hometown atleast once in a while
Banking is only one such service where in alternative channels are provided to customer to have uninterrupted service even during holidays and there are call centers working 24/7 to resolve the issues
Whereas in all other govt depts enjoying this 5 days week since long including lic doesn’t have alternate chanels and have to visit the branches only during working hours to ge their job done, but no one is bothered about that, only worried about banking, where alternate facilities are available don’t know y?
The same way they should give a two day off for teachers . This will help in work life balance as well as the voice rest which is much needed . Only happy and healthy teachers can deliver the best
Remember that the services of MP, MLAs are more essential than little bankers.
RBI & LIC both work on 5 days week… It is poor bankers who have to work for long hours, suffering their health, family life, peace of mind and destroying work life balance completely.. Max bankers are sufffering from health problems like Blood sugar, BP, heart related diseases…. Society wants bankers to smile and serve despite all these problems forgetting that they are also human beings…..5 Day week is only solution to this serious work life issue…
Common man does not go to RBI or LIC. but goes to bank. Hence actually bank should be opened all 7 days. The staff can be given two holidays but with adjustments how railway or other essential services do.
There is no work in banks after computerization. Close banks all days. Cash withdrawals are through ATMs. Have just one or two staff. Send the rest home. When CITIBANK has just two staff in a branch why not PSU Banks.
You maybe rich thats why you have an A/c in CITI bank.. there are about 90-95 crores ac in PSB.. SBI solely has 50cr customers. To handle that much customer… Really 2 staff per branch ? 😒
I mean almost daily, like get DD, deposit and locker. In case jewellery is brought from locker on Friday it will remain for two days at home inviting thief. Really brutal
I don’t know to which department you are working, just for information with 2 staff if any bank able to manage entire branch no PSU will recruit these many staff.
It is very unfortunate to know that all Saturdays will be off.Many customers working in private company were visiting Bank on alternate Saturday for any work. Now that is impossible. Besides for any bank related work you have to visit bank multiple times as on today. Five days week should not be passed by finance minister Also Schedule Bank charge annual fees for Debit Card which should not be applicable to Senior citizens above 60 years. Finance minister please do something good for senior citizens
This matter was pending since a long.
Almost all offices have policy of five day’s working. As far as efficiency concerned, we find it is due to staff shortage. Almost 30 to 40% vacancies are left and neglected. Causes customer services and stress on staff.
सप्ताह में 5 दिन कार्य दिवस बैक यूनियन की डिमांड सरकार पूरी कर रही है! अच्छा कदम है, लेकिन बैकों या भा० जी० बीमा निगम में कार्यरत कर्मचारियों की कार्य प्रणाली को अगर देखा जाए तो वह पुराना ही बना हुआ है! यदि 5 डेज वर्क को लागू किया जा रहा है तो कार्य के घंटों में भी बदलाव होना चाहिए! सुबह 9 बजे से शांम 5 बजे तक कार्य होना चाहिए! सरकार प्राइवेटेशन को बडावा दे रही है! धीरे-धीरे सरकारी बैक, भा० जी० बीमा निगम आदि बंद हो जायेगें! प्राइवेट बैक , इंश्योरेंस कम्पनी आ गई है,और आ रहीं है! कुछ जनता का पैसा लेकर गायब हो चुकी हैं कुछ कुछ गायब हो रही है! अभी पेटीएम बैक का बवाल चल रहा है! कर्ई प्राइवेट बैकों का आर० बी० आई० ने लाइसेंस निरस्य कर दिया! पैसा तो जनता का फसता है! लखनऊ में HBCL बैक पर प्रतिबंध होने पल लेन-देन बंद है! इन सब बैंको को लाइसेंस बिना जांच- पडताल किये कौन देता है, जनता की गाडी कमाई ये बैंक लूट रही है! इन सब में सुधार की आवश्यकता है!
WORST DECISION ….WASTE PLAN. 5 DAYS A WEEK. HOW COME HOSPITALS AND BANKS WE ATE ALWAYS DEPENDS ON THIS BOTH. ASK THEM TO RESIGN WHO ARE SUFFERING FROM HELATH AND APPOINT NEW STAFF. ATLEAST THEY CAN GET JOB . GOVT SHOULD RE THINK ABOUT THIS DECISION.
Why not they purpose to get salary for 25 days instead of 30 days a month. They want full month salary against 18 days working I.e 8 days Saturday Sunday +5 days casual & Earned leaves etc. Excluded
They want full salary against 18 days working I.e 8 days Saturdays and Sundays + 5 days casual & Earned leaves etc per month excluded. After permissible cl el and Sundays why not they purpose to get salary for 25 days a month. It will be harassment and inconvenience for public
Why my comments not being posted Are you biased
Public are very clever that , they get their work done from other govt offices by waiting months together, but they will not wait for even five minutes even after seeing long queue infront of Bank staff, show me which govt department work by such crowd infront of them, even though banker are not efficient very rude,,,,,, dear friends bankers are also human beings, the only thing is that clerical cadre should be given some responsibility in banking , this issue top management should understand and to make necessary changes, so that work pressure on officers will be reduced and customer can get better service.
Then please reduce the salary difference between a clerk and a officer. Officers are getting almost double salary than a clerk thats why responsibilities are levied upon them.
Name of the Union should be disclose in all forum. So that the members should aware of their strength of respective union from where they belongs.
Bankers can work from home.No need to come to branches.They come to bank to sell insurance products for their own gain.
The foreign concepts have destroyed our country. The work culture is deteriorating.
Good initiative but at the same time bankers should provide better services. At present allmost nationalized banks fails to provide better services. Only few staffs provides very good services than their other counterparts of the same bank. So when salaries increased & holidays increased try to improve your service quality also so that all will see good result of this.
This is true.
Everyone say banking is an essential service, isn’t the life of people providing the service essential.i hope some of your close known will be in bank, go and ask them what life they live working in banks, today because of old and inefficient staff young staff are under more pressure.we bankers don’t get long holidays like other govt employees neither we get salary like corporate employees, but we work as corporate employees and get paid as govt employees,
It is very unfortunate to have 5 days in a week for bank. Always the bank union is working against the public. The business organizations and state government offices are functioning even more days.
Okay, but may banking services for all transactions from 8am to 5pm
Many may be against 5 day banking. But it is actually good for banking. It will reduce the cost on bank as well as stress on employees. A present day banker has to do and know all sectors to which he is lending,failing to which he is primarily held responsible. Private banks do selective jobs. Bankers in PSU have so many restrictions amid which he has to carry out quality business, cross-selling, govt businesses. In so many instances it happened, a govt bank can not give loan due to deviations, but the same person gets loan in private bank. By this we can understand what is happening in banks . So now banking,especially for PSU employees, has become so stressful that 5 day banking will give him some time to heel his week long stress.
Those who criticize 5 Day banking r requested to observe the life of a Banker for whole day to understand their situation. Banker particularly Officer’s Cadre will receive many Calls from Higher Offices w.r.t to Targets regarding SB & TD Accounts, Insurance & Mutual Funds, Loans & Recovery, Marketing & Compliance etc. In addition, we have to provide Service to all types of Customers and even if they behave rude, we have to satisfy and pacify them. Above all, all this is to be done with Smile from 09.00 am to 08.00 pm and sometimes the work stretches to 10.00 pm also. We r forced to work far away from families and come on Holidays for loading Cash in ATMs. Public is not aware of all these but simply post Negative Comments as if Bankers r enjoying happy and peaceful life.
Everyone wants job security with minimum work output. Few are genuine workers. Rest are born retired and a drain on our country. If only our people worked the way, they work when they are abroad, India would be no.1.
When internet banking is available 24×7 and in person visits to the banks have become rare, absolutely no problem in 5 days banking. It’s true that bank officers are overburdened and they deserve better work-life balance.
Gone are the days when bank industry was the best pay masters and they now rank very low in compensation aspect, even below the government department employees, who don’t have any financial risks unlike bank officers. Just compare even the compensation being enjoyed by the private bank sector banks to the PSU employees.
Of course, the authorities should ensure efficiency and accountability of the bank employees, while giving them best deal.
Sirs and Respected Madam, s.
Thank u for all the comments. Banking is necessary everyday. Giving holiday for all saturdays some may be unhappy. I understood from various comments. After doing the banking job and retiring from bank service. The pensioners of The Bank are not given updation in the pension. It is only the wife and children’s of a bank employee will understand.
Father will not attend parent meeting. Wife complains u dont attend any functions of the house. After facing all the difficulties. The banker works completes service but no pension hike. Not all bank staff are rude. Think about the bad loans. The axe falls on the banker.
You are absolutely right. Not every banker is rude. You were hardworking. I appreciate u. I went thru my bank where the staffs were not cooperating and this way u find some customers being rude to the banker for not getting their work done.
It is very good news for bankers as well as for general public. For bankers it. Will be pressure lease days. As I am from bankers family I know how much under pressure they are working. For general people it will be good as the bank employees will work very energetically with less number of absent.
It is a welcome decision to have 5 days a week work for bankers.
But, banks to ensure that their staff do not sandwich intervening public/ festival holidays add their CL/ PL and go on long weekends. This would very much affect the customer service.
5 day work in bank like rbi and lic is a much awaited decision which will surely boost the morale of bank employees working round the clock duly fatigued. No work life balance indeed. Don’t paint all with the same brush with the allegations of rude and stubborn. A big salute to iba for their inking decision.
5 days banking welcome but cash hour (not banking hour) must be compensated 8 hour and some month 12 cash hour can not be compensated by simply business hour.
what time joint note signing will happen today
The work of loading cash in ATM machines are now being attended to by the party on contract and not by thr bank employees as a member told.
It will be a good BPS.Pensioners and Family pensioners will get ex-gratia.Hope for the best.
For the first time ex-gratia is being sanctioned to Retirees.Though , we cannot say it is updation of pension.But it is the first ste towards pension updation.
Good and everyone focused on IT sector only,they did good for country and we means bankers also a part of economy and it is a positive note for employees..Thank you
When it will be implemented may I know exact time and date
People don’t know about real struggle of the bankers will comment negativity. Only bankers know their own struggle s.
Those people who thought bankers are not doing any work and not supporting for the bankers 5 day banking why can’t that people question the government for development , why can’t they question their mlas and mps?
Very good news for Bank employees. They are the most harassed lot in comparison to Insurance employees, petroleum psus or RBI. Always at the receiving end of the customers and their unending demands.
Very Happy for them
Ok…Pay them only for the days they work….Why the Tax Payer Govt Money has to pay them on Saturdays then…
ATM machine must improve. So, people will face less problem. Both machine Withdrawal and Deposit too.
IF BANK WILL BE OPENED FOR 5 DAYS IN A WEEK, THEN WHAT WILL BE THE WORKING HOURS ????? WILL THE WORKING HOURS BE THE SAME AS MOW OR THE WORKING HOURS WILL BE EXTENDED ???? AMD, WILL THE SALARY HIKE ????? ….
Very shameful decision. Banks should be open 12 hours 7 days a week and salary should not be more than 8000 pm. Instead of this decisions are being take for harrasing customers
Inconvenience will be caused to general public who work a 5/5 and half day week as unable to access banking service on Saturday evenings..
5days banking system will not effect public? Most of the people like to excute functions on holidays only. So all saturday working half day may be best.
It’s a nice decision .But the five working days Mon to Fri should be more productive as it will increase the revenue by banks .
5 days week is good for employees but there is need for improvement in working of bank employees. There should not be long ques. Any should not be waiting for more than fifteen days. All online funds transfers should be there on all bank holidays so civilians will not suffer. Wish all the best for bank employees.
Waiting should not be more than fifteen minutes
A big salute to Bank unions ,IBA and Finance ministry.
Bank closure for 2-days in a week may not be a good idea for the fast changing world especially for the business fraternity . Instead 7-day working with 5-day employee-rotational-working may be a good idea.
All over the world it is a 5 days a week for banks. Behind the scene even officers work for 7 days. 5 days a week a step in right direction.
Good news for SBI employees. Now they will an extra day to do nothing other than their unending lunch breaks.
Quality of work, work life balance both are important . Already bank is closed for 2 Saturdays another 2 Saturdays if closed also not an big issue for the customers, most of the people utilizing digital banking services.
Old system is ie every Saturday half day, it wil be convenient both to customers as well as bank staff.because we can not eat more in five days and fasting two days a week
Atleast 1 saturday in a month bank should be open so that working people can do banking work secondly working hours in week days shall be increase
Good Decision by Government. Atleast Bankers who are working daily from 9 to 9 and on Sundays and government holidays too will get time for their families. Most suicides are done in this service sector only, in India. On the other side, Public are already using alternate Delivery Channels like Internet Banking, Mobile Banking, UPI etc. etc.
Everything going online….24*7 services available in on line people should upgrade themselves instead of waiting in banks.Bank employees are also human beings they are working extra hours daily for the sake of customers.
5 days banking is not a wise step. Even the employees of other services and public who don’t use net banking will be the sufferers.
It is good news for bankers .But the Bank set up for common working class people it not meeting the purpose .They cannot take leave in any working day to come to Bank to meet the requirement .Bank can decide any one day break in working day and keep Saturday working day ….For common people Saturday Bank open is required
Otherwise Bank keep open from 8am to 6pm.on working days to compensate Saturday off.
This will pave the way for higher usage of digital banking among customers which is the need of hour.
There are many others things which you can’t do digital. Like demandrafts etc. So it will be better they work 1/2 days on Saturday. This will save lot of time of the customers and also inconvenience will be avoided.
Already govt employees over paid for actual service they give to people, since banking being essential services they can implement rotation shift rather giving straight 5 day week.
Crores of Central State MNC office goers cannot visit their Branch because they attend their office from 10 to 5 just to get coins, currency notes of 10, 20, 50 100, 200 and ATMs provide only 500.
I am a State Government Employee, generally I got to my Branch Bank on SATURDAYS just to get ₹ 10, 20, 50, 100, 200 currency notes and Coins.
Now I will be 10 to 5 in office from Monday to Friday, when will I go to Bank🥺🤔🥺🤔🧐😭😭
It is good for bank employees for 5 days banking to expend time family and their children.we success for long time.