AIBOC CIRCULAR NO. 93 DATED 10TH JUNE 2010

AIBOC issued its circular No. 93 on introduction of 5 day week in the Banking Industry. We are reproducing the same here for our readers.

CIRCULAR NO: 93                                               10^th JUNE, 2010

TO ALL AFFILIATES/MEMBERS:

5 DAY WEEK IN THE BANKING INDUSTRY - AIBOC DEMANDS IMMEDIATE INTRODUCTION BY IBA

We have been demanding introduction of 5 day week in the banking industry since a long time.  This was one of the major issues included in our Charter of Demands and it could not be taken to the logical end during discussions on 9^th bipartite due to paucity of time.  However we had impressed upon the IBA, with all logic, to take the issue with the appropriate authorities for introduction of 5 day week in the banking Industry in tune with the changed scenario. We have to-day sent a communication to the IBA, a copy of which is enclosed.

All our affiliates/members are requested to await further developments in the matter.

With greetings,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY

No./1452/188/10                                                       10.06.2010

To,

The Chairman,

The Indian Banks’ Association,

World Trade Centre Complex,

Centre 1, 6^th Floor, Cuffe Parade,

MUMBAI – 400 005.

Dear Sir,

5 DAY WEEK IN BANKING INDUSTRY -  LONG PENDING DEMAND OF AIBOC

The Charter of Demands submitted by us in connection with the 9^th Bipartite Settlement in the Banking Industry includes the demand for introduction of 5 day Week in the Banking Industry, an issue which is as old as that of the 2^nd option on Pension. However, in view of paucity of time, the representatives of the Indian Banks’ Association could not devote much time for examining this crucial issue and take a positive decision along with signing of the 9^th Bipartite Settlement.

The Executive Committee of the Confederation which met recently in Chennai, had an occasion to deliberate on the issue at length.  The members were of the unanimous view that in the light of the revolutionary changes that have taken place as regards the technology initiative such as telebanking, internet banking, core banking, any time banking, anywhere banking etc. and also the banking expansion through a large ATM net work, there is a strong case for immediate consideration of the demand of the Confederation for introduction of 5 day week by the Indian Banks’ Association.  There are several strong grounds, apart from the infrastructure now created by the Banking Industry which will not cause any harm to the customers in case 5day week is introduced in the Banking Industry. The first and foremost reason is, the country will be saving a lot of natural resources by way of reduction in the use of fuel by lakhs of employees working in the Banking Industry, since they depend upon their own personal vehicles to attend office. This will also reduce global warming to an extent. Further, 5 day week will provide good health to our officers who are toiling without any rest almost 14 to 16 hours a day on account of increasing workload and business growth.  The reduction of 2 hours of business on Saturday does not affect customers as almost all Banks have increased business hours by two hours per day from Monday to Friday.

At present all Central government establishments, RBI, Forex Department, Parliament, State Assemblies, Treasury, IT/BT industries and Western Countries observe 5 day week. Majority of State government offices remain closed on Second Saturday of the month. Therefore Banking Industry switching over to 5 day week will not make much difference. 

We therefore request you to kindly look into our demand with a positive outlook and consider the introduction of 5 day week as it will go a long way in further strengthening our Banking Industry and delivering better results to the people of the country.

Please treat the matter as urgent.

Yours faithfully,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY