Bank Unions Push for Five-Day Workweek After 2023 Agreement Dela
Five-Day Workweek for Bank Employees has become a major demand across India as bank unions intensify pressure on the government to approve a long-pending agreement signed in 2023 Bank unions across India have intensified their demand for a five-day workweek for bank employees, warning of protests and possible strikes as the government continues to delay approval of a long-pending agreement signed in 2023. Major banking unions such as the All India Bank Officers’ Confederation (AIBOC) and the United Forum of Bank Unions (UFBU) have expressed frustration over what they describe as “unjustified inaction” by the Finance Ministry, despite the sector posting historic profits and undergoing rapid digital transformation.
What Is the 2023 Agreement About?
In 2023, bank unions and the Indian Banks’ Association (IBA) reached a consensus to reduce the working days in public sector banks from six to five per week, effectively making Saturdays non-working days except for essential services. However, since public sector banks fall under government oversight, the agreement requires final approval from the Union Government, which has yet to come.
Nearly two years later, the proposal remains stuck, prompting unions to accuse authorities of ignoring employee welfare despite benefiting from improved productivity and profitability in the banking sector.
Digital Banking Has Changed the Game
One of the strongest arguments raised by unions is the massive shift toward digital banking. According to union data, over 99.8% of banking transactions are now conducted digitally, reducing the need for physical branch operations on weekends. With mobile banking, UPI, internet banking, and ATM services operating round the clock, unions argue that Saturday branch operations are no longer essential.
They also point out that many government departments and financial institutions, including the Reserve Bank of India (RBI), already operate on a five-day workweek without affecting efficiency or service delivery.
Record Profits, Rising Work Pressure
Public sector banks recorded a combined profit of ₹1.78 lakh crore, the highest ever, during the last financial year. While this is seen as a sign of strong recovery and reform, bank unions argue that these profits have come at the cost of increased workload, staff shortages, and rising stress levels.
Employees are handling expanded responsibilities such as loan recovery, financial inclusion schemes, compliance checks, and aggressive cross-selling targets, often with fewer staff than before. Unions say a five-day workweek would improve mental health, productivity, and work-life balance, ultimately benefiting both employees and customers.
Cost Savings and Global Practices
Bank unions also highlight that reducing operational days could help banks cut costs related to electricity, security, transport, and maintenance. Internationally, most major banking systems follow a five-day work model, aligning with global labor standards.
“The Indian banking system cannot continue with outdated work practices while the rest of the financial ecosystem modernizes,” a senior union leader stated.
Protests Intensify, Strike Warning Issued
The Five-Day Workweek for Bank Employees is being justified by unions citing digital banking growth, record profits, and rising workplace stress
With no official response from the Finance Ministry, unions have begun staging demonstrations and awareness campaigns across major cities. The UFBU has warned that if the government continues to remain silent, a nationwide strike could be announced in the coming weeks.
Union leaders stress that the demand is not new or unreasonable but is based on a mutually agreed framework already approved by the IBA. They say the delay undermines trust in collective bargaining and discourages employees who have supported banking reforms over the years.
What Happens Next?
If approved, the Five-Day Workweek for Bank Employees could transform work culture in public sector banks nationwide As pressure mounts, all eyes are now on the government’s next move. Analysts believe that approving the five-day workweek could improve morale across public sector banks while aligning them with modern workplace standards. However, concerns about customer accessibility and political timing may be contributing to the delay.
For now, the five-day workweek for bank employees remains a key flashpoint between unions and the government—one that could significantly impact India’s banking operations if left unresolved.
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