5 Days Working in Bank: Will banks open for only 5 days from December? This is a big question that has been on the minds of crores of bank customers and bank employees for a long time.
Bank employees have been advocating for 5 days working in banks for a long time. However, in exchange for reducing 2 Saturdays, banks will have to work 40 minutes extra every day. There have been many talks between the Bank Employees’ Association, RBI and government officials regarding 5 days working in banks. A decision on this is to be taken in December. Know here whether there will be 5 days working in banks in December?
What is the proposal to make banks open 5 days a week?
Till now, banks in the country remain closed on every Sunday, second and fourth Saturday. Currently, banks get a holiday except one Saturday. That is, they have to work on one Saturday and the next Saturday is a holiday. Now bank employees and bank unions have been pushing for 5-day working week for a long time. That is, banks will work from Monday to Friday and banks will remain closed on Saturday and Sunday. That is, bank employees are demanding 8 holidays instead of 6 holidays in a month. For this, an agreement has been reached between bank employees’ unions and the Indian Banks Association (IBA).
New opening and closing times for private and public sector bank branches
According to reports, if the government approves this proposal, banking hours can be extended by 40 minutes. With this, bank branches will remain open from 9:45 am to 5:30 pm. Currently, most banks open till 10 am. Public dealing is done till 4 pm. Unions have assured that customer service will not be affected by the implementation of 5-day working. The working hours of bank employees will be increased by about 40 minutes per day.
Joining note signed in March 2024
The 9th Joint Memorandum of Understanding (JMO) between IBA and bank unions was signed in March 2024. It also includes a proposal to operate 5 days a week. However, banks will open for only 5 days, for its implementation, approval from the Ministry of Finance and the Reserve Bank of India (RBI) is required.
Will 5-day work start in banks from December?
The demand of bank employees for a 5-day working week seems unlikely to be fulfilled in December. Expressing displeasure over this, the All India Bank Officers Confederation (AIBOC) has said that it will soon plan a protest. AIBOC General Secretary Rupam Rai said that so far there has been no indication from the government about a 5-day working week. We have appealed to all our affiliated unions and the United Forum of Bank Unions (UFBU) to join the agitation. AIBOC has urged the government and the Prime Minister’s Office to give priority to this proposal. The union has said that this is not only necessary for the welfare of the employees, but it will also improve the level of functioning of the banking sector.
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