Bank employees want a five day work week.
The United Forum of Bank Unions (UFBU) on Friday announced a two day nationwide bank strike on 24th and 25th March, 2025 demanding a five day week, withdrawal of the recent government directives on performance review, performance linked incentive and others.
The UFBU is an umbrella body of various unions in the Indian banking sector.
The UFBU demands:
- Adequate recruitment in all cadres, regularise all temporary employees.
- Implementation of a five day work week in the banking industry.
- Immediate withdrawal of the recent Department of Financial Services directives on performance review and PLI, which threaten job security, create division and discrimination amongst employees and officers and undermine public sector bank's autonomy.
- Safety of Bank Officers/Staff against the assault/abuses by unruly banking public.
- Fill up the post of Workmen/Officer Directors in public sector banks.
- Resolution of residual issues pending with the Indian Banks Association.
- Amend Gratuity Act to increase the ceiling to Rs 25 lakhs on the lines of the scheme for government employees along with exemption from income tax.
- Not to recover income tax on staff welfare benefits given to employees and officers on concessional terms. Managements to bear the same.
- Maintain a minimum of 51% of equity capital in IDBI Bank by government.
The major issue for the bank unions is the issue of the Department of Financial Services asking the managing directors of all the nationalised banks and the chairman of the State Bank of India to review monthly the performance of senior employees and retire those who are found inefficient.
The Department of Financial Serviceshas asked the banks to send a monthly report on this issue.
"In the guise of retiring inefficient senior employees in the public sector banks, the government is interfering in the day to day affairs of the banks and threatening the job security of employees," says C H Venkatachalam, general secretary, All India Bank Employees&r Association.
"The PSBs are run by the board of directors. The government can review the performance of the managing directors appointed by it," adds Venkatachalam. "The latest move by the government will result in the misuse of power threatening the job safety net the bankers enjoy."
Under the existing retirement rules, Venkatachalam explains a committee can review the performance of an officer in PSB who is 55 years of age or more or has put in 30 years of service (for SBI officers 50 years of age or 25 years of completed service) and retire that employee in case of public interest.
In the case of workmen (clerks and peons) in public sector banks s/he can be retired on reaching 57 years of age (for SBI workmen it is 58 years of age) and if the efficiency was found to be impaired.
"The government should not ask for the monthly report," says Venkatachalam, adding, "PSBs are board run. The performance of the employees are reviewed regularly."
Nearly 60 board seats have remained vacant for the past ten years in public sector banks, says Venkatachalam, which need to be filled soon.
Venkatachari Jagannathan can be reached at venkatacharijagannathan@gmail.com
Feature Presentation: Rajesh Alva/Rediff.com
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