NEW DELHI, SEP 29 (AGENCIES): The Indian Banks’ Association (IBA) has constituted a high-level committee to hold discussions on the implementation of a five-day banking week, according to a communication dated September 29, 2026.
The committee has been constituted following the September 27 meeting of IBA negotiating committee with the United Forum of Bank Unions (UFBU) and will include representatives from both bank management and employee unions.
The committee has been formed as unions continue to press for implementation of the five-day work week, under which all Saturdays would be declared holidays for banks. The demand has been under discussion between bank unions and the IBA for several years.
During bipartite discussions on January 31, 2023, IBA proposed increasing daily working hours by 45 minutes to facilitate a five-day work week. The unions had earlier proposed a 30-minute increase in working hours.
Bank unions on September 27 deferred their three-day nationwide strike following assurance from the IBA on their demands, including a five-day work week. The strike call beginning September 28 was given by the United Forum of Bank Unions (UFBU), which coincides with half-yearly closing.
The committee will also have representatives from the banking unions and associations under UFBU.
Bank unions want all Saturdays to be declared holidays, effectively moving to a Monday-to-Friday working schedule. Currently, Public Sector Banks generally observe holidays on the second and fourth Saturdays of each month, while other Saturdays are working days.
Wednesday, September 30, 2026