Finance Minister Ashwini Vaishnaw said on Monday that the government has no commitment to a five‑day banking week, after the United Forum of Bank Unions claimed the 12th Bipartite Settlement signed on March 8, 2024 included the change.
Under the 12th Bipartite Settlement, bank staff would work from Monday to Friday, with each day extended by 40 minutes to compensate for the dropped Saturday shift.
The UFBU has also pushed for a higher family pension for retirees, an option to shift National Pension System members to the old scheme, and the removal of the Performance Linked Incentive scheme, which the government has put on hold.
The strike, slated to run from September 28 to 30, coincides with banks' half‑yearly close; in response, the Finance Ministry has ordered public sector banks to stay open on Sunday 27 and has instructed ministries to disburse September salaries and pensions on September 25.
The ministry has urged union leaders to resolve the dispute through dialogue, noting that many of their concerns have already been addressed, while the unions remain firm on the five‑day banking demand.