Government never agreed to 5-day work week for banks, facts being twisted: Sources

A finance ministry official has clarified that the government never agreed to a 5-day work week for banks, contradicting claims by the United Forum of Bank Unions (UFBU). The UFBU announced a three-day strike from September 28 to 30, citing that the 5-day week was never a negotiated point in previous wage talks. The finance ministry official stated, "The five-day week was never agreed at the time of the last wage negotiations.

It was never a negotiating tool." In response to a September 22 letter from the All India Bank Officers’ Confederation, the IBA informed union representatives that consideration of the 5-day banking issue was being taken by the government. Currently, banks operate on the first, third, and fifth Saturdays of each month. The 12th Bipartite Settlement, signed in March 2024, agreed to declare all Saturdays as bank holidays, pending approval from the government and Reserve Bank of India.

The finance ministry official emphasized that while other concessions were granted, such as a 17% wage increase and a performance-linked incentive scheme suspension, a 5-day work week was not among the agreed-upon terms.