Demand for five-day week for banks ‘continues to be examined’, says FinMin

Bank unions call for a three-day strike from September 28 to 30
| Photo Credit:
ANI

As bank unions threaten to strike, the Finance Ministry stated on Monday that the proposal for a five-day work week for banks is “still under review.” The ministry also appealed to bank staff to abstain from participating in the strike.

Bank employee unions have scheduled a three-day strike from September 28 to 30. This action is part of a broader series of strikes that began on September 11 and could escalate into an indefinite strike starting October 28. The unions’ primary demands include the adoption of a five-day banking week and the scrapping of the performance-linked incentive (PLI) scheme. Currently, the government has suspended the PLI scheme.

Sanjay Lohia, the Financial Services Secretary, led a meeting on Monday with the leadership of public sector and regional rural banks. Following the discussion, an official release stated: “Since the majority of the Unions’ concerns have been largely resolved, the outstanding demand is still being examined, and the Government remains committed to implementing welfare initiatives for banking personnel, bank employees are requested to avoid strikes, seek solutions through discussions, and guarantee that banking operations are not disrupted.”

5-day week

Regarding the five-day work week, the statement stressed that banking is an essential service for all citizens, and its continuous availability impacts the daily lives of the public. It was noted that, to benefit bank employees, the government designated the second and fourth Saturdays of each month as holidays for Public Sector Banks back in 2015. “The Saturdays that remain open still provide a crucial window for many citizens to conveniently utilize banking facilities,” the statement added.

Moreover, the release pointed out that the planned three-day strike overlaps with the banks’ half-yearly closing on September 30, a critical day for reconciliation, provisioning, and treasury and market activities. “Such a disruption, coupled with the preceding weekend, would lead to an effective five-day shutdown of banking services during a highly sensitive time in the financial year — resulting in significant difficulties for customers, businesses, government dealings, and international banking functions,” it mentioned.

The statement underscored that public sector banks are currently in a strong and stable position — a status attained through the continuous efforts of the Government and the dedicated contributions of bankers and their managements over the years. It is crucial to maintain and enhance this achievement for the mutual benefit of the banks, their staff, and the public they serve. “Any form of strike or work disruption will negatively impact the banks,” it concluded.

Published on September 21, 2026