Bank Employees 5 Days Working: Bank employees have been demanding five days working for a long time. It is expected that the government can fulfill their demand in the budget. An agreement has been signed between the Indian Banks Association (IBA) and employee unions regarding two days leave in a week for bank employees.
Bank Employees 5 Days Working: Bank employees have been demanding five days working for a long time. It is expected that the government can fulfill their demand in the budget. 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 the government’s approval is awaited on this agreement. It is believed that the government can announce 5 days working in the budget. If the government gives it a green signal, then by the end of the year the employees can get 5 days working. If this happens, banks will open only five days a week. Till now banks are closed on all Sundays, second and fourth Saturdays.
Government can get approval in the budget
On the rule of 5 days working, the Bank Employees Forum has expressed confidence that this will not affect the customer service. After this, a Memorandum of Understanding has been signed between the Indian Banks Association (IBA) in December 2023. It includes both government, 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 IBA and All India Bank Officers Confederation outlines 5 days working with Saturday and Sunday off. Now the government will give its decision on this, it is believed that this can be discussed in the budget.
There will be a change in the rules
Discussions will also be held with the Reserve Bank of India (RBI) as it regulates banking hours and the internal functioning of banks. Some bank employees said that the government may issue a notification at the end of the year or early 2025. Once approved, Saturdays will be recognized as official holidays under Section 25 of the Negotiable Instruments Act.
This will be the new time for opening bank branches
According to a report, if the government approves a five-day week, the daily working hours can be increased by 40 minutes. This will make the banks work from 9:45 am to 5:30 pm. The working hours of banks will be revised. Currently, bank branches are closed on the 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, RBI and Government had agreed with IBA and declared 2nd and 4th Saturdays as holidays.
