Bank holiday: Indian banks will soon be closed for five days every week, including Saturdays, according to a proposal being reviewed by the Indian Banks’ Association (IBA). If approved, it would mean an increase in bank holidays throughout the year. The move comes after bank unions across the country submitted a proposal for a five-day working week throughout the year, which would give bank employees a weekend off.
While some prefer to do their banking online, the proposal may affect those who need to visit their bank branches on weekends. At present banks remain open on the first and third Saturday of every month.
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The five-day working week proposal would require employees to work 10-hour shifts from Monday to Friday with Saturday and Sunday off. The proposal to increase working hours is yet to be approved by the IBA, but it may get a push from the association.
The IBA is currently in talks with the United Forum of Bank Employees (UFBE) regarding the proposal for a five-day working week. At the moment it is not clear whether the proposal will be approved or not.
Bank employees may benefit from moving to a five-day work week, but it could also affect those who need banking services on weekends. The proposal is being closely monitored and more updates are expected in the coming weeks.
frequently Asked question:
Q1: How will this proposal affect customers who have to visit bank branches on weekends?
If the five-day working week proposal is approved, Indian banks will remain closed on Saturdays, which could affect those who require banking services over the weekend. However, some banking services may still be available online or through mobile banking platforms.
Q2: When will the proposal for a five-day working week be approved?
It is not clear at the moment whether the proposal for a five-day work week will be approved. The IBA is currently in talks with the United Forum of Bank Employees (UFBE) regarding the proposal, and further updates are expected in the coming weeks.