Stress and Work Pressure: Bankers Speak Out on the Demand for 5-Days Banking

In the demanding world of banking, where stress and work pressure are inherent across every bank and every region, the long-standing demand for implementing 5-Days Banking in India has gained momentum. The consensus between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) marks a crucial step, with the final decision now awaiting approval from the Department of Financial Services (DFS) and the Ministry of Finance (MoF). As the 12th Bipartite Settlement is nearing its agreement, common bankers express discontent in social media over delay in implementation of 5-days work week. But what do bankers themselves have to say about this initiative?

A pilot survey conducted by Kanal sheds light on the sentiments of bankers regarding 5-Days Banking. 31 bankers responded to 6 questions within a span of 24 hours, also providing some descriptive answers to share their personal experiences. The survey remains open for more bankers to register their opinions. (Find the link below) 

Register Your Opinions Via Kanal – Pilot Survey

The 31 respondents of the pilot survey included 11 from the state of Kerala, 10 from Tamil Nadu, 3 each from Andhra Pradesh and Odisha, two from Puducherry and one each from Maharashtra and Telangana. The survey got responses from bankers from 11 banks operating in these states. UCO bank topped the survey with 11 respondents, followed by Indian Overseas Bank with seven respondents. Three bankers from Bank of India, two each from Utkal Grameen Bank and Andhra Pradesh Grameena Vikas Bank, and one banker each from State Bank of India, Union Bank of India, Indian Bank, South Indian Bank, CSB Bank and ICICI participated in the survey.

Bankers' Voices: A Vox-Pop Summary

Overtime Work and Holiday Work

(Graphical representation of responses to a question on overtime work.)

To a question on overtime work, 12 among the 31 respondents replied they are forced into overtime work throughout the week. 93.5 percent of the respondents are forced to work overtime on four or more days per week. On another query on holiday-work, 71 percent of the bankers agreed that they are forced to work on holidays, whereas 58.1 percent revealed the pressure to work on two or more holidays in a month.

On Family and Social Life

Bankers unanimously express their struggle with balancing work and personal life. One respondent candidly states, “No. I already forgot about my family life. Better to get separated. At least they will have peace of mind.”

On Job-Related Stress

The impact of job-related stress on mental health is described as drastic. Bankers reveal their battles with hypertension and breakdowns. One respondent shares, "Felt like no purpose of living. Our Regional Manager told me that my purpose of living is working for the bank. If you didn't achieve the target then there is no purpose in living." Another adds, “Always stressed due to workload, staff shortage and unachievable targets.”

On Sundays, Rest and Leisure

Sundays offer little respite as bankers find themselves caught in household chores and preoccupation with impending work targets. "All household works like washing, cleaning, etc., are to be done on a single day," shares one respondent. Another laments, “Sunday we will spend thinking about the unrealistic target of Monday.”

On 5-Days Banking

The overwhelming sentiment among bankers is in favour of implementing 5-Days Banking. They emphasise the need for a better work-life balance. "It should be implemented and it'll benefit the bankers a lot by reducing the work stress," says one respondent. Another adds, “It is very much necessary, especially for lady officers. There is no work-life balance at all.”

The survey paints a clear picture of the challenges faced by bankers in maintaining a healthy work-life balance. With stress taking a toll on their mental health and Sundays offering little respite, the demand for 5-Days Banking resonates strongly among them. Bankers seek relief from the relentless workload and aspire for more time with their families. The IBA in their latest letter to the UFBU convenor, has urged the signing of the settlement for 12th bipartite with a final negotiation talk on 11 March 2024, as the clearance for 5-day work week is yet to come from the DFS. The ball now lies in the court of authorities to address these concerns and pave the way for a more sustainable banking environment.