5-Day Banking Week: High-Level Committee Holds First Meeting with IBA

UFBU Presses for Time-Bound Implementation of 5-Day Banking Week – IBA Agrees to Address Stakeholders’ Concerns

The long-pending demand for the implementation of a 5-Day Banking Week in the banking sector has moved a step forward, with the first meeting of the High-Level Committee constituted by the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) being held on 12th November 2026.

The committee was constituted in accordance with the minutes signed between IBA and UFBU on 27th September 2026, which also resulted in the deferment of the proposed strike action by bank employees and officers.

#5-Day Banking Week: UFBU Seeks Early Implementation

During the meeting, UFBU strongly emphasised that the discussions should be time-bound and result-oriented so that the necessary measures for implementing the 5-Day Banking Week could be finalised and implemented without further delay.

UFBU also clarified that concerns raised by various stakeholders, including customers and the banking public, could be addressed through constructive dialogue and that there was no justification for delaying the process.

The meeting acknowledged that declaring the remaining Saturdays as holidays would not reduce the overall hours of customer service. Any operational issues affecting banking services would be examined by the committee, thereby addressing concerns regarding the possible impact of a five-day working week on customer service.

UFBU further highlighted the increasing workload and stress faced by bank employees and officers. It was emphasised that a five-day working week would not merely be an employee welfare measure but would also contribute towards improving operational efficiency, productivity and the quality of banking services.

#Key Outcomes of the Meeting

The following points were agreed upon during the discussions:

- The specific concerns raised by stakeholders will be taken up in the next meeting.

- The Government's broader concerns regarding the delivery of the best possible customer service and strengthening of banks will also be discussed.

- The next meeting of the committee will be convened at the earliest.

UFBU stated that the process is now formally underway and that the matter is being discussed at the highest level. It reiterated its commitment to pursuing an early and positive conclusion.

#Other Important Issues Discussed with IBA

Apart from the 5-Day Banking Week, UFBU also raised several important pending issues with IBA.

1. Modifications in the PLI Scheme

UFBU requested IBA to convene an exclusive meeting to discuss the proposed modifications in the Performance Linked Incentive (PLI) Scheme so that the views already agreed upon could be incorporated into the scheme after following the due process. IBA agreed to hold the meeting at the earliest.

2. Resolution of Residual Issues

UFBU urged IBA to arrange a separate meeting to discuss the residual issues and resolve all important pending matters at the earliest. IBA agreed to fix a date for the meeting.

3. Ex-Gratia for Pensioners of Private Sector Banks

UFBU highlighted that although all private sector banks were parties to the Pension Settlement of 1993 and the subsequent settlement providing one more option in 2010, the ex-gratia benefit provided under the 2024 settlement has not been implemented by some private sector banks.

IBA informed that it had already advised all private banks that were parties to the earlier settlements and would take up the matter with the concerned banks.

4. Compensation for Working on Sunday, 27th September 2026

UFBU pointed out the disparity in compensation for officers who worked on 27th September 2026 (Sunday).

While all banks had paid overtime wages to employees as per the Bipartite Settlement, IBA had advised only public sector banks to compensate officers with one day's wages. Private sector bank managements had also required officers to attend duty on that Sunday.

IBA agreed to do the needful to ensure that officers of private sector banks also receive similar compensation.

5. Leave Applications from Employees Unable to Attend Duty on 27th September 2026

UFBU objected to certain banks asking employees and officers who could not attend duty on 27th September 2026 due to personal difficulties or other reasons to submit leave applications, despite the day being a holiday.

IBA took note of UFBU's views and assured that suitable advice would be issued to the banks.

#Next Wage Revision Settlement Also Discussed

Regarding the Charter of Demands for the next wage revision, IBA informed UFBU that the Government had advised it to expedite the process so that the next wage revision settlement could be completed well before the expiry of the present settlement/Joint Note in October 2027.

UFBU responded that it was aware of the matter but emphasised that the existing pending issues should be resolved before proceeding with the fresh Charter of Demands.

# What Lies Ahead?

The first meeting of the High-Level Committee marks an important development in the long-standing demand for a five-day banking week. While no final decision or implementation date has been announced, the constitution of the committee and commencement of formal discussions indicate progress towards resolving the issue.

The outcome of the forthcoming meetings will be crucial in determining how soon bank employees and officers can expect the implementation of the five-day banking system.

The banking fraternity now awaits the next meeting and a concrete, time-bound roadmap for the implementation of 5-Day Banking Week.