5-Day Working For Banks: Why It Is Important & Challenges Ahead
India is into a longtime debate on 5-day workweek for banks. Currently, banks work six days a week, and observes the close on the second and fourth Saturdays. Meanwhile, there has been a long-standing demand from bank employees to adopt a 5-day workweek for
The Indian Banks’ Association (IBA) and bank unions agreed to a proposal for banks to adopt a 5-day workweek in December 2023. However, this is the subject to government approval. In March 2024, the IBA and bank unions signed the 9th Joint Note, which highlighted the plans to switch to a 5-day workweek. Moreover, this plan included the offs on Saturdays and Sundays.
The media reports suggested that the banking employees’ long-standing demand for a 5-day workweek may get final approval from the finance ministry by the end of December 2024, which didn’t happen. As of now, the government has not announced any official deadline on this matter.
Notably, bank unions, under the umbrella of United Forum of Bank Unions (UFBU), have announced a 2-day nationwide strike starting March 24, 2025, to push for their demands, including 5-day work week and adequate recruitment across all cadres.
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