No 5-Day Week Yet: Govt Rejects Claim of Agreement with Bank Unions
What Happened
The Finance Ministry has clarified that the government never agreed to a five-day workweek for banks and said the issue was not part of wage settlement negotiations. The statement comes ahead of a nationwide three-day bank strike beginning September 28, called by bank employee unions demanding all Saturdays be declared holidays.
Key Takeaways
The clarification exposes a sharp disagreement between the government and bank unions. While unions maintain that the Indian Banks' Association (IBA) had agreed to a five-day banking week during the March 2024 wage settlement, the government says no such commitment was made. The dispute is now a key trigger for the upcoming strike, which could affect banking services across the country.