This information will be helpful to you if you or any family members are bank employees. Yes, you should be aware that bank employees have been requesting to work five days a week for a long time. According to their demands, Banks should have two days off per week. It is now anticipated that the government will grant their request shortly. The Indian Banks Federation and the staff unions have agreed on this.
Awaiting approval from the government
All we need to do now is wait for the government to approve this. By the end of this year, if everything stays the same, the government can approve this and bank employees will start getting leave every Saturday and Sunday. Indian Bank Association (IBA) and bank employees’ organizations have made an agreement together. Under this, bank employees will work five days a week and will have leave on Saturday and Sunday. It has been almost a year since the agreement was made.
Both public and private banks
This applied to both public and private banks. Without the government’s consent, this decision cannot be carried out. The Reserve Bank of India (RBI) must also get clearance before this proposal may be implemented. The Reserve Bank must be notified if working hours are increased or decreased because it monitors the banks. Although a date has not yet been set, the government hopes to decide on this matter soon.
The hours at which banks open and close will vary.
Bank opening and closing hours will alter if the government permits work five days a week. At the moment, banks are open from 10 a.m. to 5 p.m. However, the new regulations state that banks will open at 9:45 am and close at 5:30 pm. This means that bank employees will have to work 45 minutes more every day. Currently, banks work on the second and fourth Saturdays of every month.
On the second and fourth Saturdays in 2015, an agreement was made.
Bank workers anticipate hearing from the government by the end of this year or the beginning of next year regarding the new regulation. Banks will continue to be closed on Saturdays after the government approves this regulation. Since 2015, bank unions have been calling for Saturday and Sunday holidays. Following the 2015 agreement, holidays on the second and fourth Saturdays of the month were authorized by the RBI, the government, and the IBA.
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