Banks likely to be closed every Saturday; IBA mulling over five-day work week for bank employees

Bank Holidays: Indian banks may soon be closed for five days every week, including Saturdays, according to a proposal being reviewed by the Indian Banks Association (IBA). If approved, this would mean an increase in bank holidays across the year. The move comes after bank unions across the country submitted a proposal for a five-day work week throughout the year, which would give bank employees weekend offs.

While some prefer to do their banking online, the proposal may impact those who need to visit their bank branches over the weekend. Currently, banks remain open on the first and third Saturday of every month.

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The proposal for a five-day work week would see employees working 10-hour shifts from Monday to Friday, with Saturday and Sunday off. The proposal for the increased work hours has not yet been 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 (UFBEs) regarding the proposal for a five-day work week. It is unclear at this time whether the proposal will be approved or not.

The move to a five-day work week could benefit bank employees, but it may also impact those who require banking services over the weekend. The proposal is being closely monitored and further updates are expected in the coming weeks.

FAQs:

Q1: How would the proposal impact customers who need to visit bank branches over the weekend?

If the proposal for a five-day work week is approved, Indian banks may be closed on Saturdays, which could impact those who require banking services over the weekend. However, some banking services may still be available through online or mobile banking platforms.

Q2: When will the proposal for a five-day work week be approved?

It is unclear at this time whether the proposal for a five-day work week will be approved or not. The IBA is currently in talks with the United Forum of Bank Employees (UFBEs) regarding the proposal, and further updates are expected in the coming week.

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