Bank unions’ long-standing call for relating to 5-day paintings week is also fulfilled later this week as the problem will arise for dialogue at Friday’s assembly between the Indian Banking Association (IBA) and United Forum of Bank Unions (UFBU).
If cleared, the proposal, which will likely be mentioned in conjunction with problems reminiscent of wage hike and requirement of team medical health insurance insurance policies for retirees, will see staff get 2 weekly offs.
Issue beneath energetic attention: UFBU
According to CNBCIn a notification dated July 19, UFBU stated the problem of 5-day paintings week used to be beneath ‘energetic’ attention of stakeholders.
“IBA knowledgeable that the problem is beneath energetic attention of more than a few stakeholders and the similar is being pursued. We requested the IBA to expedite the similar in order that 5 banking days every week is offered with out additional lengthen,” the notification stated.
Govt’s stand on banks opening 5 days a week
Responding to an IBA proposal in this regard, the finance ministry stated it will not object to this demand of bank employees, reported CNBC. The proposal also said that on each working day, banks would open for 40 minutes over the regular closing time.
The demand for a 5-day work week first came after the policy was implemented in the Life Insurance Corporation (LIC) of India, in May 2021.
Current system of holidays in bank
At present, bank employees get off on Sundays, and second and fourth Saturdays. They also get holidays on festivals, and the Reserve Bank of India (RBI) prepares the holiday list. Online services, however, remain functional on holidays as well.