This week there may be four consecutive days of holiday in banks because bank employees have announced a strike on January 27. They are demanding to work only 5 days in a week. If there is a strike on 27th January then banks can remain closed for 4 days continuously because 24th January is the fourth Saturday, 25th January is a Sunday, 26th January is a Republic Day holiday and there will be a strike on 27th January.
Bank unions say that the 5-day working week will reduce work pressure on employees. They will be able to work more efficiently and spend more time with family. In India, most central government offices and many financial institutions already work for 5 days. Bank employees also want the same.
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will work more
The United Forum of Bank Unions (UFBU) has made a proposal for the convenience of customers. They say they will work 40 minutes more every day from Monday to Friday. Due to this the total working hours will remain the same. UFBU points out that RBI, LIC, GIC, stock market, forex and money markets are already closed on Saturdays.
Who is raising this demand?
UFBU is an organization consisting of 9 major bank unions. It represents public sector banks. About 8 lakh employees and officers are associated with it. But it is not easy to implement 5 day banking across the country. RBI approval is very important for this.
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What will be the impact on customers?
If working hours, wages and other changes are not agreed upon, change will be difficult. Customers may face inconvenience for a few days, like going to the bank branch to withdraw money, depositing cheques, etc. But unions say that this change is necessary for better work-life balance of employees and in the long run banking will be better.
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