Banks To Function 5-Days Per Week? Here's What PIB Said

There has been a new rumour circulating that Reserve Bank of India (RBI) has released a five-day working week for banks starting April 2025. Banks will be open only from Monday to Friday, and Saturday and Sunday will be announced as official holidays, according to a news report in Lokmat Times. The rumour has been debunked by the Press Information Bureau (PIB) Fact Check team on their official X handle, who clarified that RBI has not released such an order.

The Newspaper article suggested that the move aimed to enhance bank employees' work-life balance and align the banking sector with corporate work schedules. However, PIB Fact Check has confirmed that this information is false. RBI has not announced any regulation regarding a five-day work week for banks. Any major change in banking operations would be communicated through official channels such as RBI’s website or government notifications.

There is six-day working for the majority of Indian banks these days with the alternate Saturdays declared as offs. Public sector banks are regulated by the government and Indian Banks' Association (IBA) and private sector banks operate on their own timings. Introduction of a five-day workweek is possible only on the IBA sanction, talks with the different stakeholders, and a formal public announcement by RBI.

UFBU Bank Strike

Although five-day work week charge is unfounded, banking working culture has remained a point of contention from some time. United Forum of Bank Unions (UFBU) consisting of nine bank unions has announced a two-day all-India strike on 24th and 25th March 2025. Banking operations will be impacted across the country with this strike, which will cause inconvenience to both the business community and customer base.

Key UFBU demands include proper recruitment to man staff posts, implementation of a five-day week, and improved safety measures for banking staff. The unions are also demanding withdrawal of government instructions on job security and performance appraisals and raising the gratuity ceiling to Rs 25 lakh.

As March 22 will be the fourth Saturday and March 23 will be a Sunday, the two-day strike will result in a four-day shutdown of banks. The public sector banks like SBI, PNB, and Bank of Baroda will be hit the most.

Impact on Customers and Banking Services

Since the strike is about to take place on weekdays, customers could face inconvenience in obtaining in-branch services such as cash withdrawal, deposits, clearing of cheques, and loans disbursals. Facilities offered through the Internet and ATMs would be operating as usual. Consumers will need to schedule alternate arrangements sufficiently earlier to refrain from inconvenience.

Despite the fact that the argument that RBI is enforcing a five-day work week has been dismissed, the threat of strike indicates the existing issue of bank workers. The proposal for the five-day work week is a central point of contention between banking authorities and labour unions. The situation is an indication of the necessity to negotiate between the government, bankers, and labour unions to achieve a reasonable remedy in favour of workers to the least possible inconvenience to customers.

For accurate updates, customers and bank employees should refer to official sources such as RBI’s website and reputable news platforms.

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