Meeting of High-Level Committee on 5-Day Banking Held in Mumbai

A meeting of the high-level committee for the implementation of 5-Day Banking was held on 12 November in Mumbai. The meeting was held at 10:00 AM at the Committee Room, IBA, World Trade Centre, Cuffe Parade, Mumbai.

The meeting was attended by All India Bank Employees’ Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), Bank Employees Federation of India (BEFI), All India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC) and Indian National Bank Employees’ Federation (INBEF).

Read Highlights – What happened in meeting

The first meeting of the High Level Committee constituted by the Indian Banks’ Association (IBA) and United Forum of Bank Unions (UFBU) was held on November 12, 2026. During the meeting, several important issues concerning bank employees and officers were discussed.

1. Implementation of 5-Day Banking

• UFBU strongly demanded that the process of implementing a 5-day banking week should be completed without further delay.
• UFBU said that discussions should be time-bound and result-oriented so that the decision can be finalised and implemented as soon as possible.
• It clarified that declaring all Saturdays as holidays will not reduce the total customer service hours.
• UFBU also said that concerns raised by customers, the public and other stakeholders can be resolved through discussions.
• Any operational difficulties arising from 5-day banking will also be discussed and resolved by the High Level Committee.
• UFBU explained that bank employees are already working under heavy workloads and severe stress.
• It said that a 5-day working week would not only benefit employees but also improve efficiency, productivity and the quality of customer service.

2. Next Meeting on 5-Day Banking

• The committee agreed to continue discussions in its next meeting.
• The next meeting will specifically discuss the concerns raised by different stakeholders.
• The Government’s concerns regarding better customer service and strengthening the banking system will also be discussed.
• IBA agreed that the next meeting should be held at the earliest.

3. Modifications in the PLI Scheme

• UFBU raised the issue of modifications in the Performance Linked Incentive (PLI) Scheme, as agreed in the minutes of the earlier settlement.
• It demanded that IBA hold a separate meeting to discuss this matter.
• The purpose is to incorporate the agreed changes into the PLI Scheme after following the required process.
• IBA agreed to hold a separate meeting on this issue at the earliest.

4. Pending Residual Issues

• UFBU urged IBA to arrange a meeting to discuss the remaining pending issues, known as Residual Issues.
• It said that all important pending matters should be sorted out and resolved as soon as possible.
• IBA agreed to fix a date for holding a separate meeting on these issues.

5. Ex-Gratia for Pensioners of Private Banks

• UFBU raised the issue of non-implementation of ex-gratia benefits for pensioners of certain private sector banks.
• It pointed out that private banks were parties to the 1993 Pension Settlement and the 2010 settlement providing another pension option.
• However, some private banks have not implemented the ex-gratia benefits provided under the 2024 Settlement.
• IBA informed UFBU that it had already advised all private banks that were parties to the earlier settlements.
• IBA also assured that it would take up the matter with the concerned banks.

6. Compensation for Working on Sunday, September 27, 2026

• UFBU raised the issue of compensation for bank employees and officers who worked on Sunday, September 27, 2026.
• It pointed out that all banks had paid overtime wages to employees as per the Bipartite Settlement.
• However, in the case of officers, IBA had considered the request to compensate them with one day’s additional salary.
• UFBU highlighted that IBA had sent its advisory only to public sector banks.
• It said that private sector banks had also asked their officers to work on that Sunday, so their officers should also receive the same compensation.
• IBA agreed to take the necessary action in this matter.

7. Leave Applications from Employees Who Did Not Attend Office on September 27, 2026

• UFBU raised concerns that some bank managements were asking employees and officers to submit leave applications if they could not attend office on September 27, 2026.
• It said that employees who could not attend office due to personal difficulties should not be asked to apply for leave because September 27 was a holiday.
• UFBU considered this practice inappropriate.
• IBA took note of the issue and assured UFBU that it would advise banks suitably.

8. Next Wage Revision and Charter of Demands

• IBA informed UFBU that the Government had advised it to speed up the process of the next wage revision.
• The Government wants the next wage revision settlement to be completed well before the expiry of the present settlement/Joint Note in October 2027.
• UFBU informed IBA that it was aware of the matter and the preparation for the next wage revision.
• However, UFBU said that the existing pending issues should first be resolved before proceeding with the fresh Charter of Demands for the next wage revision.

Important Outcomes of the Meeting

Important: The meeting has formally started the process of discussions on 5-day banking at the High Level Committee. However, no final decision or implementation date for 5-day banking was announced in this meeting.