Bank Employees 5 Days Working: Banks will work for 5 days from this month, there will be changes in rules

Bank Employees 5 Days Working : Bank employees have been demanding 5 days working for a long time. It is expected that the government can fulfill their demand in the budget. An agreement has been signed between the Indian Banks Association (IBA) and employee unions regarding 2 days leave in a week for bank employees.

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Now the government’s approval is awaited on this agreement. It is believed that the government can announce 5 days working in the budget. If the government gives a green signal to this, then by the end of the year, employees can work for 5 days. If this happens, banks will open only five days a week. Till now banks are closed on all Sundays, second and fourth Saturdays.

Approval can be obtained from the government in the budget

On the rule of 5 days working, the Bank Employees Forum has expressed confidence that this will not affect the customer service. After this, a Memorandum of Understanding has been signed between the Indian Banks Association (IBA) in December 2023. It includes both government, private banks and bank unions. This agreement included a proposal for 5 days working, which was subject to the approval of the government. After this, on 8 March 2024, the 9th joint note of IBA and bank unions was signed. The joint note signed by IBA and All India Bank Officers Confederation outlines 5 days working with Saturday and Sunday off. Now the government will give its decision on this, it is believed that it can be discussed in the budget.

There will be a change in the rules

Discussions will also be held with the Reserve Bank of India (RBI) as it regulates banking hours and internal functioning of banks. Some bank employees said the government may issue a notification by the end of the year or early 2025. Once approved, Saturdays will be recognised as official holidays under Section 25 of the Negotiable Instruments Act.

This will be the new time for opening of bank branches

According to a report, if the government approves a five-day week, the daily working hours can be increased by 40 minutes. This will make the banks work from 9:45 am to 5:30 pm. The working hours of banks will be revised. Currently, bank branches remain closed on the second and fourth Saturdays. Bank unions have been demanding holidays on all Saturdays and Sundays since 2015. Under the 10th bilateral agreement signed in 2015, RBI and the government had agreed with the IBA and declared the second and fourth Saturdays as holidays.

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