Bank employees, under the banner of the United Forum of Bank Unions (UFBU), protest demanding the implementation of a five-day banking week in Bhopal. (File Photo | ANI)
During the last meeting between the Ministry of Finance and the representatives of the banks regarding the wage revision, the government did not commit to the idea of a five-day workweek for the banking sector, sources aware of the matter said.
“During the last meeting regarding the wage discussion, we never committed to a five-day workweek for banks. It was never negotiated. There was no agreement; it was not discussed," said the Ministry of Finance sources who do not want to be named.
The comment came at a time when the bank employees nationwide are preparing for a three-day strike from September 28, demanding a five-day workweek, instead of six days of work in alternating weeks.
This is in contradiction with what the Bank unions claimed. The unions have claimed that the industry body, Indian Banking Association (IBA), has agreed to a five-day week, with Saturdays to be declared as holidays, during their negotiations around the wage settlement.
Refuting such claims, the Ministry officials clarified that most of the demands put on the table during the last meeting on the wage discussion have been addressed.
However, as claimed by the All India Bank Officers’ Confederation (AIBOC), after meetings between IBA and the United Forum of Bank Unions during the wage revision settlement in March 2024, it was agreed upon to have five working days in a week.
The bank unions have claimed that both the Reserve Bank of India (RBI) and the Ministry of Finance have five working days in a week, then there is no rationale for having six working days in the banking sector.
“Despite the government having resolved one of the two major demands of the union, and sustained conciliatory engagement, a one-day strike was held on September 11, with a further three-day strike now scheduled from September 28 to 30, and an indefinite strike proposed from October 26, on the single demand of a five-day workweek for banks,” mentioned a recent statement by the Ministry of Finance.
For More News Updates Follow Us On www.tconews.in
