FinMin News: Finance Ministry Orders Public Sector Banks to Act Fast on Employee Stress and Staff Shortages

FinMin News: Finance Ministry Orders Public Sector Banks to Act Fast on Employee Stress and Staff Shortages

Ministry of Finance has directed all Public Sector Banks (PSBs) to take immediate action to address the growing issues of employee stress, long working hours, and staff shortages. The move comes after months of complaints from bank unions and officers about heavy workloads, unrealistic targets, and additional non-banking duties.

According to a report by The Economic Times (by Dheeraj Tiwari), the ministry has asked banks to create clear action plans focusing on employee welfare. It has told bank boards to find practical solutions to reduce work pressure and ensure that business goals do not come at the cost of employee health. Officials noted that overworked staff can affect both productivity and service quality.

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As part of the EASE Reforms framework, many banks have already started conducting Employee Health Index surveys every quarter. These surveys help identify stress factors among staff and guide wellness programs, digital counseling, and leadership training.

Bank unions have welcomed the Finance Ministry’s move, calling it a much-needed step to recognize the real challenges faced by employees. They have long raised concerns about excessive work hours and a shortage of manpower. Senior bank officials have said that the new focus will also promote gender-inclusive and supportive work environments.

The next phase, known as EASE 8.0, will give more importance to employee support, wellness, and sustainable work culture.

Public sector banks are set to roll out mentorship programs, regular health assessments, and training for leadership development to maintain a balance between performance and staff well-being.