Bank employees under the banner of the United Forum of Bank Unions (UFBU) on Monday staged demonstrations in front of bank offices in Jammu, Srinagar and Leh as part of a nationwide protest demanding the implementation of a five-day work week in the banking sector.
Union leaders said the demand for a five-day work week has been pending for long and is widely known to all stakeholders. They pointed out that due to increasing workload, staff shortages and mounting work pressure, bank employees and officers are working under severe physical and mental stress.
They recalled that under the 10th Bipartite Settlement and 7th Joint Note signed in 2015, it was agreed that the second and fourth Saturdays of every month would be holidays, while the remaining Saturdays would be full working days. However, they said that as per an understanding reached on December 7, 2023, between the Indian Banks’ Association (IBA) and workmen unions, a proposal was made to declare all Saturdays as holidays for banks under the Negotiable Instruments Act.
Union leaders said the IBA has already recommended the proposal to the government, and the necessary changes in working hours are subject to approval by the Government of India and clearances from the Reserve Bank of India. They said it has been nearly two years since the recommendation was forwarded, but no final decision has been taken.
The unions said the government is fully aware that the five-day work week is one of UFBU’s key demands and that bank staff continue to work under extreme pressure due to inadequate manpower. They described the demand for declaring the remaining Saturdays as holidays as reasonable and justified, and called for its early implementation.
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