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5 Days working in Bank: The issue of 5 days work in banks and two days holiday in banks has been raised for a long time and now a big update has come in this matter. According to the All India Bank Officers Confederation, a consensus has been reached on the proposal of bank holiday on all Saturdays regarding 5DaysBanking. However, the final decision has to be taken by the government. Not only five days work in banks, but there is also a consensus on a 17 percent increase in the salary of bank employees.
Banking path cleared in 5 days
According to a report published on Business Today, for a long time, bank unions had appealed to implement 5 days bank work in 180 days by December 2023. The All India Bank Officers Confederation said that in a joint note, it has been agreed to recognize all Saturdays as holidays till the government notification is issued. It said that the revised working hours will be effective after the government notification.
IBA CEO shared the information
Indian Banks Association CEO (IBA CEO) Sunil Mehta has shared information in this regard through a post on the social media platform X. In this post made on Friday, he wrote, 'Today is an important milestone for the banking industry, as IBA and UFBU, AIBOA, AIBASM and BKSM have signed the 9th joint note and 12th bilateral agreement regarding salary revision for bank officers and employees.
There will be a bumper increase in salary
Along with five-day banking, the Indian Banks Association and bank employee unions have agreed on an annual salary hike of 17 per cent. Along with this, there will be a bumper increase in the basic salary as well. This will put an additional burden of about Rs 8,284 crore annually on government banks. At the same time, about 8 lakh bank employees will benefit from the salary hike. According to IBA, this salary hike will be effective from November 1, 2022.
What is special in the new agreement?
The bank officers' association said that the new pay scale has been determined by combining the dearness allowance (DA) of 8088 points and the additional burden on it. Under the new agreement, all women employees will be allowed to take one day of sick leave every month without giving a medical certificate. Along with this, it can be encashed for up to 255 days in case of death of an employee at the time of retirement/during service. The report says that the government can take a big decision on this too.
This change happened in 2015
It is worth noting that in the year 2015, the government had declared second and fourth Saturdays as holidays in banks. Bank unions are demanding to implement 5-day working system in banks like LIC. After getting the gift of two days weekly holiday, the working hours of bank employees may increase. If the 5-day working system is implemented in banks, then employees may have to work 40 minutes extra every day. That is, their working hours can be from 9:45 am to 5:30 pm.