look news india
Bank employee They have been demanding five days work for a long time. It is expected that the government can fulfill their demand in the budget. An agreement has been reached between the Indian Banks Association (IBA) and employee unions regarding two 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 five days work in the budget. If the government gives a green signal to this, then by the end of the year, employees can get a chance to work for five days. If this happens, banks will open only five days a week. Till now banks remain closed on all Sundays, second and fourth Saturdays.
The government may get approval in the budget
On the 5-day working rule, the Bank Employees Forum has expressed confidence that it will not affect 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 of work, 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 of work with Saturday and Sunday off. Now the government will give its decision on this, it is believed that it 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 the government may issue a notification at the end of the year or early 2025. Once approved, Saturday will be recognised as an official holiday 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 increase by 40 minutes. This will allow banks to work from 9:45 am to 5:30 pm. The working hours of banks will be revised. Currently, bank branches remain 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 in 2015, RBI and the government agreed with the IBA and declared holidays on the second and fourth Saturdays.