Government sources have firmly stated that the demand for a five-day banking week for employees has never been open for negotiation, a stance reiterated amidst impending nationwide strikes by bank unions.
The United Forum of Bank Unions (UFBU), representing approximately 90% of the country's banking workforce, has called for a three-day strike from September 28 to 30. This industrial action primarily targets the long-standing demand for a work week from Monday to Friday, citing that both the Reserve Bank of India (RBI) and the Department of Financial Services already operate on a five-day schedule.
Government Stance and Previous Concessions
Senior government officials confirmed that the issue of a five-day work week was not agreed upon, nor was it a negotiating tool during earlier wage discussions with bank unions. This position comes despite the government having addressed several other key demands in previous rounds of negotiations, including enhancements to family pension schemes in 2022.
Furthermore, the proposed performance-linked incentive (PLI) scheme, another point of contention, has been put in abeyance. A recent statement from the finance ministry acknowledged these concessions, appealing to bank employees to ensure uninterrupted banking services despite the scheduled strikes.
Union Demands and Upcoming Action
The current banking schedule grants holidays on the second and fourth Saturdays of each month. However, unions contend that the 12th bipartite settlement had formally committed to implementing a full five-day banking week, a proposal that has been under discussion for over two years.
The UFBU's upcoming three-day strike follows a one-day strike held on September 11, with an indefinite strike also proposed from October 26 if the demand for a five-day work week remains unresolved. The finance ministry has expressed concern over the continued strike action despite significant conciliatory engagement and resolution of other major demands.