Bank Holiday: Bank employees have been demanding a 5-day work week for years, with Saturday and Sunday as holidays. The government has finally taken note of their request and decided to make this change. The new rule will soon be implemented, which will bring significant changes to the banking sector. Let’s dive into what this update means.
What Has Been Decided So Far?
An agreement has been made between the Indian Banks’ Association (IBA) and bank employee unions regarding the 5-day work week. However, government approval (Bank Holiday) and Reserve Bank of India (RBI)’s clearance are still pending. If the rule is implemented, it will apply to both public and private sector banks.
Current Holiday System in Banks
Currently, bank employees get holidays on the second and fourth Saturday of each month. However, the bank unions have been demanding holidays on every Saturday, similar to Sunday holidays. There is a high chance that this demand will soon be fulfilled.
Changes in Banking Hours | Bank Holiday
If the 5-day work week proposal is approved (Bank Holiday) by the government, bank working hours will also change. Currently, banks operate from 10:00 AM to 5:00 PM, but after the new rule is implemented, banks will open from 9:45 AM to 5:30 PM. This means that bank employees will have to work 45 minutes extra each day, but in return, they will get two days off each week. This change will also benefit customers, as they will have more time to avail of banking services.
What Employees Have Been Demanding
In 2015, an agreement was made regarding working hours and holidays for bank employees. According to this agreement, bank employees were given holidays on the second and fourth Saturday of each month. This agreement was made between the government, RBI, and IBA, which led to its quick implementation. Since then, bank unions have been demanding holidays on every Saturday and Sunday, and now this demand seems likely to be fulfilled.
When Will the Rule Be Implemented?
Bank employees are hopeful that the 5-day work week rule will be agreed upon by all three parties and will be implemented soon. While some agreement has been reached, the final approval from the government is still awaited. It is expected that the rule will be implemented in the next one to two years.
Conclusion
The 5-day work week rule will be a big relief for bank employees. They will get Saturday and Sunday off and will work for extra 45 minutes each day. This change will bring a better work-life balance for employees and give customers more time to utilize banking services. Now, we are just waiting for the government’s approval to make this change official.
Read More
ITR Filing: Top Mistakes to Avoid for a Smooth Tax Filing Experience
Good News for Central Employees: DA to Rise by 3% in July, Here’s the Calculation
MSSC Scheme: Turn ₹2 Lakh into ₹2,32,044 in 2 Years, A Perfect Investment for Women
Dailynews24 App :
Read the latest News of Country, Education, Entertainment, Business Updates, Religion, Cricket, Horoscope Here. Read Daily Breaking News in English and Short Video News Covers.
