Bankers stage demo for introduction of ‘5-day-a week banking system’

Banking operations in all four southern districts were paralysed completely on Tuesday as the bank employees struck work in support of their demand of introduction of ‘5-day-a week banking system’.

The protesters said Indian Banks’ Association (IBA) and United Forum of Bank Unions signed a memorandum of understanding on December 7, 2023, agreeing on the ‘5-day-a week banking operations’ by declaring all Saturdays as holidays for banks. Moreover, both sides agreed to increase the working hours of the banks by 40 minutes everyday for declaring holidays for banks on all Saturdays.

Even though this arrangement was recommended to the Government of India, it had been kept pending for the past two years, which had forced the bankers to go on strike to press their genuine demand.

Canara bank Palayamkottai branch wearing a deserted look on Tuesday following the bankers strike.
| Photo Credit:
A. SHAIKMOHIDEEN

Even though a conciliation meeting was organised in New Delhi recently to avert this nationwide strike, the Centre remains adamant. Even as the State and Central Government offices, Life Insurance Corporation of India, share market and most of the service sectors are functioning only 5-day-a week, the Union Government is yet to comply with the IBA’s MoU with bankers, and hence the bankers fight for ‘5-day-a week banking system’, the protesters said.

Over 200 members of All India Bank Employees’ Association, National Confederation of Bank Employees, All India Bank Officers’ Association, Bank Employees’ Federation of India, Confederation of All India Bank Officers’ Associations, National Organisation of Bank Workers, National Organisation of Bank Officers and Indian National Bank Officers’ Conference participated in the demonstration held in front of Federal Bank, Palayamkottai.

Similar agitations were organised in Thoothukudi, Tenkasi and Kanniyakumari districts also as the bankers struck work.