Recent Posts

Monday, August 3, 2020

5 Days Working Week in Banks: Letter of four Officers Association to Secretary, DFS

All the Bankers through their respective Union/Associations are asking the Department of Financial Services, Ministry of Finance, Government of India to introduce the 5 days working week in banking sector. Although this is Banker's long pending demand but a common understanding between Union/Associations and Government has not been reached yet.

We all know that most of the important government department like Reserve Bank of India (RBI), SEBI, Insurance sector and all other department under Central Government are already working 5 days a week. 5 days working is an international standard so that workforce can maintain balance between work life and family life. Many developed country has even introduced 4 days working week and they have experienced improvement in efficiency of their staff. Studies has proved that 5 days working week increase the efficiency of staff. Employee feels happy when they are able to balance their work life and personal life.

In today's scenario, 5 days working week in Banks is in the interest of Bankers, Government and Society as a whole. Our government has launch a campaign of Cashless India during demonetization period and the same has been adopted by India very nicely.  Now we have many mode of payment and remittance like Unified Payment Interface (UPI), IMPS, RTGS,NEFT, BPPS, BHIM, Aadhaar Pay, ATM, Cash Deposit Machines, Passbook Printing Machines, E-Gallery, cheque deposit machines etc. These all machines has made is possible to perform all our Banking related task without going to Bank.

If government introduce 5 days working week then Bank may save huge cost of establishment which they incur on 30 Saturdays a year. It may look a small amount but considering the Banking industry as a whole, it will be in crores. Bankers burn a good amount of petrol/diesel on these 30 days in a year. If we consider approx 12.00lakhs bank employees then society may save more than 100 crores of petrol and we can save our environment by not burning this petrol/diesel.   

If government introduce 5 days working week in Bank then not only Banker but Government and Society will also save a lot and this will also not affect the convenience to the customer because of digital banking already available to them.

Today on 03.08.2020, four Bank Officer's Association as jointly sent a letter to the Sectary, DFS, Ministry of Finance, Government of India, asking them to consider this 5 days working week demand along with other demands

We reproduce below text of the joint letter dated 03.08.2020 addressed to the Secretary, Department of Financial Services






Date: 03.08.2020

Shri Debasish Panda


Department of Financial Services

Ministry of Finance

Government of India

New Delhi


Dear Sir,




At the outset, we convey our greetings on behalf of four officers’ organisations of the banking industry.

You are aware that the MOU of the XIth Bipartite Wage settlement has been signed on 22nd July 2020 after protracted negotiations spanning over two and a half years. There had been a number of roadblocks on the way, which have been resolved amicably through your timely intervention and fruitful suggestions. We take this opportunity to place on record our appreciation for the positive role played by your good office in resolving many of the issues confronting bankers.

2.               Sir, we draw your kind attention to a two day strike call given by the four officers’ organisations on 26th and 27th September 2019 in the backdrop of the announcement of Merger of 6 Public Sector Banks with 4 other banks as was announced by Hon’ble Minister of Finance on 30th August 2019. The strike notice served on the authorities (Government of India, and IBA), inter alia, had incorporated certain other pertinent issues too besides the merger of Banks were viz. a) Issuance of Mandate for wage revision by 5 banks to cover all officers; b) 5 day week; c) Pressure on officers to sell the third party products ; d) Revision of Family pension and e) Updation of Pension et al.

3.                On 23rd September, 2019, the representatives of the four officers’ organisations had a purposeful initial interaction with by Dr. Madnesh Kumar Mishra, Joint Secretary DFS and subsequently with Shri Rajeev Kumar, the then Secretary, DFS where other senior functionaries of DFS were also present. During the discussions held with the then Secretary, DFS, on 5 day week, it was categorically assured that the demand would be actively considered. Even if all Saturdays off at that point of time, could not be introduced, an additional Saturday off could well be worked out. Till date, there is no positive response in this regard.

4.               As you are well conversant with the present day plight of the citizenry of our nation due to the pandemic COVID 19, we are of the considered view that with the spike in footfall, bank branches have become a community transmission hub of COVID 19, obviously a matter of serious concern, following the surge of infection amongst the bankers after the implementation of Unlock process. Several state governments have woken up to the realization and closed down bank branches on all Saturdays under N.I. Act to ensure that banks are closed on two consecutive days to “Break the Chain”. Further, despite tremendous constraints, the financial army has responded to the call of the nation in a magnificent manner during the period of crisis to render yeoman service with patience and precision. In the process, unfortunately hundreds of bankers have laid down their lives in the line of duty.

5.               India is in the midst of digital revolution. As per experts, India is set to leapfrog many advanced countries in this space. Customers in the country are leaning towards digital adoption of financial services faster than previous estimates. There will be a paradigm shift in banking transactions from the brick and mortar banking to digital transactions concept. The PSBs have given priority in the development and expansion of alternate channel. Banks are making, in terms of long term planning, huge investment towards capex for alternate channel like ATM to cope with the digital revolution in financial services in the country. With the ongoing digital drive in the country, the number of users opting for online banking is expected to shore up significantly.

In the above backdrop, we would request your good self to explore introduction of 5 day working week on a pragmatic approach and take a holistic view on the issue in the given situation for a positive catalytic step in the direction of Digital India in conformity with Hon’ble Prime Minister’s vision. A positive move in this regard at this juncture will immensely benefit the entire fraternity of bankers along with the society to effectively combat the contagion.


With regards,

                                                            Yours sincerely,                     

Sd/-                        Sd/-                        Sd/-                                        Sd/-

(Soumya Datta)     (Nagarajan S)        (Prem Kumar Makker)         (Viraj Tikekar)

General Secretary General Secretary  General Secretary                 General Secretary

AIBOC                  AIBOA                  INBOC                                  NOBO

References: Joint letter of four officer's Association/Union

No comments:

Post a Comment