5 Days working for Banks?

The demand for 5 days week in banks is included in charter of demand for 11th BPS and is under negotiation. During recent time, there have been various rumors that 5 days banking has been approved from 1st November 2017, even some videos and some fake news articles are being spread. However, there is no such approval for having all Saturdays off in banks. The demand is being discussed and negotiated in 11th Bipartite Settlement and we are hopeful that this will be agreed, but the same will implemented once the settlement is signed. It is unlikely that this demand of 5 days banking is agreed and implemented before the full settlement happens.

According to some news websites,IBA and Government are serious in considering this demand of five days banking from Bank Unions.

The demand of 5 days working in banks was also taken up during the 10th bipartite settlement but the battle was half won. Bankers have been allowed to get off on two Saturdays only. All India Bank Officers’ Confederation (AIBOC) had issued a Circular addressing its affiliates and members that it is raising the demand to keep banks closed on all Saturdays.

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There was news in Amar Ujala that banking hours may change and banks may start 9.30 instead of 10 to compensate for holiday on 2 extra Saturdays.

With the digitization and penetration of internet and mobile banking, 2 extra holidays a month will not cause any difficulty to bank customers as people are moving more and more towards digital banking. This is also evident from the fact that there were no difficulty of any kind to bank customers when 2 Saturdays were declared off in 2015.

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“Members are aware that the demand of five days’ banking which was taken up by our Organisation very seriously during the 10th Bipartite Settlement was partially met by getting two Saturdays off.  This achievement could be clinched with the efforts of AIBOC on the last day of negotiations i.e. on the day of signing of MOU on 23.02.2015, with the intervention of Smt. Arundhati Bhattacharya and Smt. V.R.Iyer, Chairpersons of State Bank of India and Bank of India, respectively. An assurance was given by both these compassionate Executives that if the system of two Saturdays off works smoothly and without any trouble, our demand of five days’ banking will be supported by them also.” Reads the AIBOC Circular.

Through the said circular, AIBOC further says that

“During the period after the Xth Bipartite Settlement also, we continued to pursue this demand of five days’ banking through IBA and all possible channels. The latest demonetization drive implementation has put the Bank employees and Officers under lot of stress and need for five days’ banking was all the more felt. We, in the banking industry, have proved that nothing is impossible for us including implementation of voluminous and strenuous job like demonetisation. Considering this as the right opportunity, we have decided to revive this demand passionately. In this endeavor, we have written a letter to Smt. Arundhati Bhattacharya, the Chairperson of SBI and Senior Vice Chairman of IBA, urging her to support and pursue this very important issue of ours.”

We hope that all bank unions will support this demand and take up it passionately. Combined effort will be beneficial for all.

You may like to see how much time all the bipartite settlements took in past.

There were rumors on social media that RBI has approved 5 days banking, but all these news are baseless and false.