5-Day work week for Bank Employees to come into force
In a new development the Indian Banking Association (IBA) has proposed to work for five days a week. Sources reveal that the Finance Ministry is likely to approve this soon..
Earlier, there were reports that Indian Banks Association (IBA) and the United Forum of Bank Employees (UFBEs) had principally agreed to a 5-day work week, but for which the total working hours had to be increased by 40 minutes per day.
As of now, bank employees work on alternate Saturdays. every month. It is learnt that IBA had sent a proposal to the government regarding this demand and notification could be issued soon with wage board revision.
Meanwhile, banks across India will remain closed for 11 days in the month of May.
Several holidays are scheduled in May due to various festivals including Buddha Purnima and Maharana Pratap Jayanti, among others. Customers planning to visit their banks in May should consult the bank holiday calendar to avoid any inconvenience.
Weekend bank holidays in May 2023- May 7-Sunday, May 13- Second Saturday-May 14, Sunday-May 21: Sunday
May 27: Fourth Saturday
May 28: Sunday
Although bank branches will be closed on these 11 days, mobile and Internet banking services will be available for customers to conduct transactions online. Customers can also avail of the services at ATM machines and banking kiosks.
Earlier in April, banks remained closed for 15 days due to festivals like Good Friday, Ambedkar Jayanti and Eid-Ul-Fitr.
News input KV Raman
