According to the Union Finance Ministry in Parliament, India’s banking sector has formally proposed to declare all Saturdays as official holidays .  Responding to questions about the Indian Banks Association ( IBA) ‘s demand to implement a five-day working week, Minister of State for Finance Bhagwat Karad confirmed that the IBA had indeed proposed such an approach. Is.

Since 2015, there is a holiday on the second and fourth Saturday.

Since 2015, banks in India have observed public holidays on the second and last fourth Saturday of every month. Bank employees have been demanding a five-day working week for a long time. Public sector bank employees have been making this demand for a long time.

Lakhs of employees are associated with the banking sector

The IBA represents banks in India, including public and private banks, foreign banks present in India, co-operative banks, regional rural banks and all India financial institutions. The banking sector provides employment to more than 1.5 million i.e. about 15 lakh persons.

Banks will work 5 days a week

The Finance Ministry’s response did not indicate whether the proposal has been accepted or could be considered in the near future. If approved, there could be five working days in a week and the working hours of banks could increase. If this change happens then the bank employees will benefit. There will also be changes in the daily operations of the bank.

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First meeting regarding 5 days working in government banks:

Let us tell you that bank unions have been demanding 5 working days for a long time. This demand had caught hold since the government implemented the rule of 5 working days in the Life Insurance Corporation of India. Management (IBA) will do Negotiation with Bank Unions (UFBU).

Wage Revision and Affordable Health Insurance are also on the agenda of the meeting. Wage revision of bank employees is due from November 1 last year.

What is the rule regarding leave now? At present, bank employees get a holiday every Sunday and second-fourth Saturday. Holidays are available according to the festival of every state. The list of holidays is prepared by the Reserve Bank of India (RBI). However, the online service remains operational even on holidays.

What will happen now? According to information received by sources from CNBC Awaaz, the Finance Ministry has no objection to this demand of two days off and five days of work in banks. The Indian Banking Association had sent a proposal to the government regarding this demand. According to the proposal, daily working time for bank employees will be increased by 40 minutes. Notification can be issued with wage board revision. Notification can be issued under section 25 of the Negotiable Instrument Act.

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Let us tell you that bank unions have been demanding 5 working days for a long time. This demand had caught hold since the government implemented the rule of 5 working days in the Life Insurance Corporation of India.

The Finance Ministry has no objection to this demand of the employees. The Indian Banking Association had sent a proposal to the government regarding this demand.

According to the proposal, daily working time for bank employees will be increased by 40 minutes. Notification can be issued with wage board revision. Notification can be issued under section 25 of the Negotiable Instrument Act.

The government wants to settle all the issues before December 1. The government has no objection to working 5 days in a week. Bankers Wage Revision is due from 1st November last year.

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