No, I am not trying to be a doomsayer, but, exactly this heading screamed at the top of a news item that appeared in ‘Rediff.com’ a few days ago.Yes, it is going to happen if adequate steps to strike the right chord, at balancing between work and life, is not taken,I reiterate, this is going to happen in this dear country of ours, called India.
Yes,immediately, India should do away with the six days in a week system and migrate to the five days in a week system, so prevalent in United States Of America and other developed countries of the world whom we always try to emulate, be it in, pressing ahead with our agendas of privatization or bawling out at organized union activities et all.Let us give a ‘peep’ into some of the interesting insights below:
- “It is not enough to have a colorful office with balloons hanging around to ensure the work environment is stress-free,” says Sharit Bhowmick, sociologist with Tata Institute of Social Sciences (TISS), who writes about workplace pressures.
Advocacy for five days in a week system also sport big names in international business, like Henry ford, Henry Ford declared the five days work-week with a pay of six days. The concept was to pay the employees and worker more and create time away from work. The ‘Leisure time’, as described by him was quintessential for productivity. The extra cash would be spent on consumerism hence add on to the GDP. His concept was ,a well managed business pay higher wages and sell at low prices.
4.Five days work week concept seems to be rolling post recession for obvious reason. As the demand for the business increase, the hiring has been aggressive. Hence the talent shortages have been balanced. The retention strategies now designed, no longer includes growth and benefit but work-life balance. Hence offering a longer weekend works as a benefit to the employees.The folowing graph also reveals that, throughout world, most of the countries have adopted less than 40 hours a week working system:
In India too, the new gen workplaces including regulators like Reserve Bank Of India, are having five days in a week working schedules. Moreover, State Bank Of Pakistan and host of banks following suit, has already adopted five days in a week, working system and benefitted immensely as evidenced in this news report:
“The five-day week system adopted by the government has saved millions of rupees in fuel and energy costs, besides enhancing efficiency and improving social life of the people, a survey said. The government initially adopted the five-working day week to cut down by 33 percent or 500 MW of electricity in April this year and the results were soon evident”.
Moreover, a shutdown of banks for one more day will result in conservation of valuable resources like,power, fuel etc. and above all, replenishment in working ability of bank employees, resulting in better services to bank’s clientele.
Bank employees in India, today, are a chevied lot, most of them have to work till late at night, thanks to in creasing workload due to adoption of CBS platform and dwindling employee strength due to ongoing problem of ‘attrition’ plaguing banking sector mostly PS banks, thanks to the regressive manner of functioning of ‘HRDDS’ at PS Banks.So, there is an immediate need for migration into ‘five days in a week’ working schedule for saving the employees of this sector from burnouts and resultant ailments.
Moreover the recent supreme court observation about ‘right to sleep’ added another dimension to this glaring need.
In addition, the advent of alternative channels of banking, like ATMs, Net Banking,mobile banking, cash deposit facility through ATMs etc. making branch visits redundant for customers, more so, some banks have also implemented deduction of charges for customers for enjoying ambiance of branches, in a bid to discourage physical visits to bank branches.So, when banks themselves, albeit with consent from ‘FINMIN’ are trying to make ‘branch visits’ and banking through visit to ‘brick and mortar’ branches, redundant, by imposing levies for such visits,the logic that, increasing one more weekly holiday, will create ‘ripples’ in the business and economy’ arena of the country and effectuate the bank depositors in an adverse way, does not cut much ice either.
At present, in India, 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 have any adverse effects.contrary to what the ‘mandarins of ‘FINMIN’ and representatives of Indian trade and industry say.
Several bank employees unions, like AIBOC,AIBEA, BEFI etc. have come out with demands for introduction of five days in a week banking in India and several un supported reports have began appearing in the internet about implementation of this new system soon .But the question which intrigues bank employees is, why these unions, instead of giving dispersed view points, are not coming out with any unified action plan to make this a reality? Apprehensions have come to the light that, this might have been kept reserved for the up coming Xth bipartite settlements and used to extract more dispersed yielding from bank employees.
Our olfactory perception could also sniff some foul grub being cooked, which might result in abnegation of some genuine demands of the bank employees in the next bi partite settlements, due to ‘give and take exercise’ with the help of this demand to be raised at that and this should not be allowed to happen and all bank employees should make it a point that the genuine demand of migration to five days in a week, should not be related to the pay revision exercise.
“With the technology savvy not sparing the Banks and banking services at the counter within the premises etc., being replaced by anytime Banking, internet banking, anywhere Banking etc., and important clientele adopting 5 days week, there is a strong urge for introduction of 5 days week in banks for all.
In fact with growing ATM networks of nearly 50000, CBS network in all banks and on line facilities and customer terminals lot of petrol/diesel will be saved by 5 days week, which may otherwise be put to use”.
- AIBOC also communicated it’s demand vide it’s letter no:1452/188/10, dated,10-06-2010, to IBA,Mumbai.
Banks will open five days a week -- news
New Delhi. So soon as the state bank will work 5 days a week.The new system is expected to be implemented from April.According to sources, the Central Government in this regard by the Indian Banks Association (IBA), RBI and the bank has conveyed his decision to headquarters. Customer service will run. Currently this service from ten till four o'clock that morning.
Whether the above has been approved will be known in a few days when an official announcement is made by banks.
Poll Results of a poll conducted by:’Banking Only’
Q.Why not 5 days a week banking implemented in India, where banking industry is well equipped with ultramodern high-tech facilities like internet banking, mobile banking, ATM, POS,RTGS,NEFT etc which fulfill customer’s monetary need 24 hours? 5 days a week banking will: 22-12-2011
1.) Increase employees efficiency, improve customer service and save energy.
2.) Decrease customer service and will badly affect banking transactions.
3.) Can not say
Nationalised banks to work only for 5 days in a week1:40 PM, Wednesday, March 7th, 2012
The Nationalized banks are so tired and indolent that they may be given 2 holidays a week, without reducing salaries. This change in working schedules may come force from the beginning of a new economic year, as on 01-04-2012, according to reliable source.
The state Bank of India and its companions will first have the privilege to work less, and relax more.
The proposal for new holidays has been sent by Indian Banks Association through Reserve Bank of India, to the Central Government for approval, it is said here.
The Union Govt has the final say in the matter, but it is more or less certain approve the change in working days. The RBI publish the timings of its “cash transaction hours” later on for public convenience.
Several officers under the Union Govt. are already observing a five day week in the country. The state Govts, have a second Saturday as a holiday. IBA had proposed much earlier to the RBI to sanction a 5-day week without a response. This time it may succeed in securing positive results.
January 31, 2012 10:52 pm
The Central Government itself has decided to reduce the working days and enhance the working hours of banks. It would have been better for the government to have consulted the Reserve Bank of India and the Indian Banks Association (IBA) in this matter.
The Government has decided that instead of 6 day per week working it will work as 5 days only. Saturdays and Sundays will be off days. But daily working hours now will be one hour more. Instead of 10 to 5 now it will be 10 to 6 O’ clock.
These days customer services are provided upto 4 pm. These days the working pattern in India is based package and contract system. Instead of fixing working hours it based on target working. The bank staff has been demanding fix working hours. In target working they have to carry on the work much longer even upto 7 to 8 O’ clock.
The Commerce and Industrial Sectors were against the 5-day working week. During the bank staff strike it is revealed that the banks suffered losses of crores of rupees and business and industry suffered loss of millions of rupees causing hardship of the whole nation.
It shows that one day more closure of banks will affect all the financial activities. In the era of computers and mobiles economic activities are going on in a speedy ways. It also accelerated the banks working and reduced physical pressures as staff by way of ATC and online services.
The decision the government will be judged in its implementation and impact.”
More and more organizations join the fray, demanding implementation of 5 days a week for banks, in India.
Posted by: Himadri Shekhar Bhattacharjee.
BCOM(Hons.),CAIIB,DMFM,DTIRM,NCFM(MFund.), NCFM(Depository), NISM(Depository), CFP(Finalist).
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