Bank 5 Day Working in Week: Positive news is now coming out regarding a long-standing demand of bank employees. Government and private sector bank employees had been demanding a system of five days work and two days leave in a week for a long time.
Now a concrete update has been received on this, under which preparations are underway to implement new rules of work in the banking sector.
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New timings and holiday rules for banks
If this rule is implemented, then banks will remain closed on two days in a week i.e. Saturday and Sunday. Instead, the daily working hours will be increased slightly. Currently, most banks open at 9:30 am and close at 5:30 pm. According to the new rule, banks will open from 9 am to 5:40 pm, so that holidays can be balanced by increasing working hours.
Consensus of bank employee unions and bank associations
A consensus has been reached on this new working model between the Indian Banks Association (IBA) and various bank employee unions. However, this proposal has not yet received the approval of the Central Government and the Reserve Bank of India (RBI).
The All India Bank Officers Confederation (AIBOC) had presented the proposal to the Central Government and the Finance Ministry and the Prime Minister’s Office last year. The employee unions are continuously demanding the implementation of this change and it is expected that the government will take a decision on this soon.
Changes have been made earlier as well.
In 2015, the rule of giving leave on the second and fourth Saturdays of the month was implemented in the banking sector. Earlier, banks used to work on Saturdays. Now employees are expecting similar changes, which will improve their work-life balance.
Waiting for the government’s approval
Although no official announcement has been made by the government and the RBI in this matter yet, employee organizations believe that a positive decision will be taken soon.
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