IBA Agreed on the 5 Days Banking Provision for the PSB's - 11th Bipartite Wage Settlement - Latest News

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Thursday, 19 March 2020

IBA Agreed on the 5 Days Banking Provision for the PSB's

11th BPS Updates on 5 Days Banking in the Public Sector Banks - In the recently concluded meeting between the Bankers' Union, UFBU and IBA, discussion on the five days banking was made. 

The unions’ argue that the 5-day work weeks are the norm around the globe for banks and even for companies operating within India. 

In the interest of digital banking, the introduction of a 5-day week would reduce cash transaction hours and lead to the augmentation of digital transactions. 

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Longer working hours have a negative impact on the level of performance, quality of decisions, the culture of the organisation and the industry, in addition to enslaving him to work, discarding familial and social obligations. 

The IBA also agreed to take into consideration the provision for 5-day banking and getting more employees on board. There was no discussion of reducing service charges for customers.

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