5 Days Working in Bank: Bank employees have been demanding five days working for a long time. It is expected that their demand can be fulfilled by the end of this year. An agreement has been signed between the Indian Banks Association (IBA) and employee unions regarding two days leave in a week for bank employees.
5 Days Working in Bank: Bank employees have been demanding five days working for a long time. It is expected that their demand can be met by the end of this year. An agreement has been signed between the Indian Banks Association (IBA) and employee unions regarding 2 days leave in a week for bank employees. Now this agreement is yet to get approval from the government. This approval is expected at the end of the year 2024. It may happen that by December, bank employees will have to work only 5 days a week.
Waiting for approval from the government
The forum has assured that this will not reduce the hours of customer service. After this, a Memorandum of Understanding was signed between the Indian Banks Association (IBA) in December 2023, which includes both public and private banks and bank unions. This agreement included a proposal for 5 days working, which was subject to government approval. After this, the 9th joint note of IBA and bank unions was signed on 8 March 2024. The joint note signed by the IBA and All India Bank Officers Confederation outlines a 5-day working day with Saturdays and Sundays off. While the IBA and bank unions agree, the final decision rests with the government. The proposal will also be discussed with the Reserve Bank of India (RBI) as it regulates banking hours and the internal functioning of banks. There is no official government deadline on that.
These rules will change
However, some bank employees said that they expect the government notification to come at the end of this year or early 2025. Once approved, Saturdays will be officially recognized as holidays under Section 25 of the Negotiable Instruments Act.
Branches will open at this time in the morning after 5 days of working
According to reports, if the government approves day working, the daily working hours can be increased by 40 minutes. With the increase of 40 minutes, the work of banks will be from 9:45 am to 5:30 pm. The working hours of banks will be revised. Currently, bank branches remain closed on second and fourth Saturdays. Bank unions have been demanding holidays on all Saturdays and Sundays since 2015. Under the 10th bilateral agreement signed in 2015, the RBI and the government agreed with the IBA and declared the second and fourth Saturdays as holidays.
