All Indian banks, that are operational for six days twice a month, will quickly get holidays on all weekends, a media report stated.
In line with a report by the Business Line, the demand put ahead by financial institution worker unions to declare all Saturdays as a financial institution vacation has been accepted by India’s Financial institution Affiliation on the twenty eighth July assembly.
Now, the consultant physique of administration of Indian banks has forwarded the petition to the Ministry of Finance for its approval.
If the Union Finance Ministry additionally approves it then banks shall be in operation solely 5 days every week, and the workers won’t should work on 1st and third Saturdays. moreover, the day by day work hours at branches might be prolonged by 45 minutes, the Enterprise Line report added.
Bankers are assured that their proposal would get approval from the FinMin. The English Every day citing sources stated, ” Primarily based on among the casual talks with the ministry, it looks like the federal government might not have a difficulty in accepting this request from the bankers’ union”.
Earlier this 12 months in March, the All India Financial institution Staff’ Affiliation issued a round whereby it talked about that the IBA agreed to implement a five-day work week for financial institution staff.
The AIBA additionally talked about, “It has emerged that the overall working hours might be elevated by 40 minutes per day with money transactions from 10 am to 4 pm and non-cash transactions as much as 4-30 pm”.
A number of rounds of conferences have occurred prior to now associated to the five-day work week for banks however no substantial consequence has come up up to now.
It stays to be seen whether or not this time the Finance MInistry will approve the demand of financial institution unions.
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Up to date: 07 Aug 2023, 11:32 AM IST
Supply: Live Mint