The long pending demand of Bank employees for a five day work week is soon going to become a reality. As per media reports the Indian Banks Association (IBA) is considering giving the bank employees fixed two week-off every week.
This although is expected to come with some terms and conditions. In a 5-day work week, however, the working hours might be increased by 50 minutes each day.
It is reported that the IBA and the United Forum of Bank Employees (UFBEs) have agreed in principle to a 5-day work week. Currently, bank employees work on alternate Saturdays.
S Nagarajan, general-secretary of All India Bank Officers’ Association, told Times of India that the government will have to notify all Saturdays as holidays under Section 25 of the Negotiable Instruments Act.
He asserted that the government has a voice because it owns the public sector banks. The idea must also be approved by the RBI. Employees would have to put in an additional 40 minutes of work each day from 9.45 am to 5.30 pm, according to the TOI article.
Additionally there are there are will 12 Bank holidays in March including the second and fourth Saturdays, and four Sundays. Banks will remain closed on regional holidays in different states as decided by the respective state governments.
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