5-Day Working In Bank: All India Bank Officers’ Confederation (AIBOC) likely to initiate strike soon as 5-day work week unlikely in December for Bank employees, claimed various media reports. Earlier, it was said that the government would allow a 5-day work-week scenario for employees working in the banking sector in December this year. However, the said month has commenced already and there is no formal or informal announcement being made from the government side.

News18 reported quoting Rupam Roy, general secretary of All India Bank officer's Confederation, that the employees associated with the body are thinking of finalising plans to commence an agitation soon. They have invited other affiliate unions and associations of UFBU to join the movement to strengthen the 5-day work week demand as there is no sign from the government to implement the same, the report said further.

Also Read: Niva Bupa Health Insurance Share Price Soars 15% To Hit All-Time High, Stock Surge Over 27% In Last Two Trading Sessions

5The -day work week has been a long-standing demand from the bank's employees, and the proposal has been awaiting final approval from the finance ministry for over a year now. Indian Banks’ Association (IBA) and employee unions have already agreed to the 5-day work set-up after employee unions assured that eh shorter work-week would not reduce the service hours for customers. The bank employees' unions proposed extending working hours by nearly 40 minutes.

The bank unions believe that the 5-day workweek proposal will lead to the well-being of bank employees and will enhance the banking sector’s work efficiency as well.

MoU signed in December 2023

Earlier, in December 2023, the Indian Banks’ Association (IBA), including both private and government-run lenders, and several bank unions signed a Memorandum of Understanding (MoU) for the 5-day work week in banks with Saturdays and Sundays off. However, this agreement is subject to government approval.

Later, on March 8, 2024, IBA and bank unions signed the 9th Joint Note for the same.

Also Read: Swiggy Share Price Rises 7% After Q2 Loss Narrows, Revenue Jumps 30%