IBA rejects bankers' demand for five-day work week, sticks to 12% wage hike

The unions have been demanding a five-day work week since a long time

The Indian Banks’ Association (IBA) has formally declined a request from employee unions to keep bank branches open for five days a week, while also expressing inability to hike wages by more than its proposal of 12 per cent.

It has not agreed to the suggestion following views of some “important stakeholders”, according to a circular issued by the staff unions, under the umbrella of the United Forum of Bank Unions (UFBU). The unions have to agree to the IBA’s decision for it to be implemented. 

The bank managements, represented by the IBA, have told the unions that a 12