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Monday, April 28, 2014

Bank Union Writes For Five Days Week

5 DAY WEEK IN BANKING SECTOR :: 

RECENT DEVELOPMENT
Letter by our Association-AIBOC addressed to the
The Chairman, IBA
under copy to
Secretary,
Ministry of Finance
The Chairman,
Indian Banks’ Association
Mumbai
Respected Sir,
Re: OUR DEMAND FOR FIVE DAY WORKING WEEK IN BANKING INDUSTRY

We would like to draw your attention to the major economic crisis our country has faced in the recent past owing to a continuous slide in the value of rupee leading to almost a state of economic emergency. The Current Account Deficit (CAD) shot up unfavorably and controlling
the fiscal deficit was a great challenge. For both the major macro - economic problems, the center of focus has been expensive Petroleum imports. The problems confronting the Petroleum ministry to restrict imports and remove subsidies had major political and social ramifications.

We, the largest national organization of Bank officers, feel responsible and duty bound to our beloved country and feel that Banking Sector can contribute enormously in conserving fuel, petroleum products, electricity etc., if ‘FIVE DAY’ working week could be implemented. Besides,it will serve the dual purpose of controlling pollution which is the need of the day. We wish to bring to your kind notice that since the last petroleum crisis faced during the Kuwait war, 'FIVE DAY' working week in Banking Industry has been our considered demand. One of the major benefits apart from various others was to save energy and fuel. 

We strongly
believe ‘Energy saved is energy produced'. We are made to understand that RBI is not averse to the idea and IBA also supported the move but due to lack of consistent and sustained follow up, the final decision could not be taken. Introducing ‘FIVE DAY’ working week in Banking Industry will be of immense help for the reasons enumerated as under:
• There are over 80,000 banking and financial branches and offices. One day additional closure a week will lead to enormous energy and cost savings
• There is over 10 lac work force in banking & financial sector. Over 70% use their vehicles to reach work place and if they are off road for an additional day in a week the saving of precious fuel will be tremendous
• There are over 30000 cars used by the branches, offices & executives for official purposes. A huge amount of fuel can be saved if they remain off the roads for one more day.
• All Bank Branches are on CBS, which require continuous power supply for connectivity. The power supply is not uniform all over the country. In most parts of the country, there are erratic power supply or prolonged power cuts, hence the branches/offices have to use diesel generator sets consuming precious fuel. Even small branches with few transactions have to maintain these generator sets & incur heavy expenditure.
• There will be a drastic reduction in pollution during the long weekends. Environmental benefit will be many folds, when consumption of the highly polluting petroleum fuel is controlled.

We would also like to draw your kind attention towards the fact that Banks observe five days working internationally. The multinational Banks operating in India also follow the five day week policy of their parent organization. Some of the major Private Sector Banks like HDFC
Bank also undertakes limited business transactions through very few selective branches with minimum staff. New generation private sector banks like Axis Bank, all IT companies, general insurance sector, Corporates and all Universities, colleges & schools work only for 5 days a
week. 
Our regulator, the RBI as well as Central and most of the State Govt. offices work only for five days and few have 2nd& 4th Saturdays off.
We humbly submit that the experience in the banking industry clearly establishes that by keeping the branches open for extended hours or all days does not lead to increase in business or accretion of new business. In 2009, when there was aggressiveness from new generation
private sector banks for business, all the banks introduced 7 day banking and 8 to 8 banking.

Within a year, all the banks wound up this experiment as there was low patronage and the cost to benefit ratio was unfavorable.
With introduction of so many alternate channels of delivery due to IT initiatives, like ATMs,Internet banking, Mobile banking etc., majority of the customers in the metropolis, urban and semi urban areas have migrated to these for their normal banking needs. The number and penetration of ATMs is much more than branches and most of the ATMs are maintained by outside agencies which keep the ATMs available round the clock. Now ATMs are not mere dispenser of cash, they are programmed to accept cash and also transfer amounts to pay statutory payments, booking of tickets etc.
In rural areas, the Public sector banks have surpassed the targets of financial inclusions set by the government and have been in forefront in reaching unbanked areas of the country.
 Banking services are made available to the landless labourers, marginal farmers and other under
privileged and poor people of the rural area round the clock with the help of ‘Business Correspondents’ and ‘Business Facilitators’. Thus with the banking facilities available throughout the country on ‘24 X 7’ basis, ‘five days’ working week will not have any adverse bearing on the customer services.
To sum up, with the implementation of ‘Five Days’ working week, we can save huge amount of cost on fuel, petrol/diesel and electricity, can control pollution apart from achieving desirable economic implications as enumerated in the forgoing paragraphs. Needless to say, happy and
healthy work force will lead to higher productivity as stress level and attrition rate will come down.
In the light of aforesaid facts, we are hopeful that our suggestions would be viewed with fresh perspective in the larger interest of the country.
With warmest regards,
Harvinder Singh
General Secretary
CC:

Sh. G. S. Sandhu
Secretary, Departmen

8 comments:

  1. instead of focusing on Saving ful,electricity etc there should be more emphasis on stress which a banker is facing today. In almost every sector there is provision of 5 days wroking but in banking sector work load is increasing rapidly , lesser staff is making the working condition pathetic. but in above letter there is nothing about this stress and working condition.

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  2. Funny letter...petrol savings. On holiday staff will consume more petrol going on picnic...hotel..etc.

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  3. Hahaha....how funny,,,,r v running bank or petrol bunk

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  4. Are these union a******* being moronic on purpose or is it in their genes!? Pathetic letter!! Petrol savings my left foot! and why this sudden interest in 5 day banking. Its just to torpedo the wage talks. Mark my words gentlemen. :(

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  5. ha ha ha........ what a bullshit letter.... If I would have Finance minister.. I would have done 7 day a week after reading this letter...... Kudos to AIBOC for writing such a pathetic letter........

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  6. Ohhhhhh I just can not stop laughing. Though. I admire the step taken by union but I would like to tell Mr harvinder and co that when you are pursuing a subject go straight with your objectives and do not try to mix unnecessary things like fiscal deficit etc. But for next time you also advise the govt how the bankers are facing pro lens and what is the work pressure and what is the no of transactions per employee that too multidirectional.hope u improve and achieve 5 days banking. All the besy

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  7. nube was the only union which submitted comprehensive charter others in UFBU kept silent at thathttp://www.scribd.com/doc/116183697/5-Days-Week-in-Bank
    http://mitalismusings.blogspot.in/2012/12/5-day-weeks-in-indian-banks-nisusgets.html
    http://importantbankingnews.blogspot.in/2012/12/awareness-about-demand-of-5-days-week.html
    nube pushes ofr 5 day week
    http://www.allbankingsolutions.com/Wage-Revision/5-days-week/5-days-week-NUBE-detailed-note.pdf time.
    why sudden change in their stand
    see Bank officers' union opposes 5-day week

    Our Bureau
    HINDU BUSINES LINE Friday, Jan 02, 2004E
    AT the recent executive meeting of the All India Bank Officers Confederation, the issue centred on introduction of five-day week in bank.
    The Indian Bank Association's move to introduce the five-day week in banks came under fire. Bankers perceived a new ploy in the association's plans. A section of them said that they saw a trap in the issue.
    The committee recalled the experience of the officers' community when the Reserve Bank of India arbitrarily reduced the number of general holidays for the officers and how they (officers' organisation) mounted pressure on the banks' managements.
    The recent move on introduction of five-day week has given new dimension to the issue, a banker said.
    Meanwhile, the committee noted with concern that in the aftermath of VRS implementation in banks, the officers were more often compelled to work on holidays and Sundays. "The days of regulated working hours is now in the past," a bank officer noted.
    The committee later stated that there would be no meaning in talking or discussing the five-day week in banks unless the officers' strength was augmented and reduction in the number of general holidays restored. They do not see any respite in the five-day week schedule despite the automation that is generally taking place in the banking circle

    Coimbatore , Jan. 1
    AT the recent executive meeting of the All India Bank Officers Confederation, the issue centred on introduction of five-day week in bank.
    The Indian Bank Association's move to introduce the five-day week in banks came under fire. Bankers perceived a new ploy in the association's plans. A section of them said that they saw a trap in the issue.
    The committee recalled the experience of the officers' community when the Reserve Bank of India arbitrarily reduced the number of general holidays for the officers and how they (officers' organisation) mounted pressure on the banks' managements.
    The recent move on introduction of five-day week has given new dimension to the issue, a banker said.
    Meanwhile, the committee noted with concern that in the aftermath of VRS implementation in banks, the officers were more often compelled to work on holidays and Sundays. "The days of regulated working hours is now in the past," a bank officer noted.
    The committee later stated that there would be no meaning in talking or discussing the five-day week in banks unless the officers' strength was augmented and reduction in the number of general holidays restored. They do not see any respite in the five-day week schedule despite the automation that is generally taking place in the banking circle
    http://www.thehindubusinessline.in/2004/01/02/stories/2004010201621000.htm

    thier stand in 2004

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  8. It's just a ploy and divert bank staff's attention from the serious talks on wage revision. By sidetracking the issue, once again wage revision process will be derailed. Before it gains old momentum, it will be another 6 months. As I have been repeatedly telling from March, 2012 onwards, the wage revision cannot be clinched before November, 2014. Who knows, it may be postponed to February, 2015 too.

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