Bank Holidays: Now banks will work for five days, will they remain closed on Saturday and Sunday? Know what is the future plan

Employees working in public sector banks in the country may soon get good news. The Central Government is now considering making every Saturday a holiday in public sector banks. A proposal has been submitted to the government by the Indian Banks Association (IBA), in which a demand has been made to declare every Saturday a holiday in all the banks of the country. If the government accepts this proposal, banks will work only five days every week.

The Union Finance Ministry gave information about this proposal in Parliament on Tuesday. Minister of State for Finance Bhagwat Karad said that IBA has presented this proposal. The government had implemented a new rule in the year 2015 regarding all the banks of the country. Under this, all the banks of the country remain closed on the second and fourth Saturday of the month. This is a mandatory holiday, which applies to all public and private sector banks in the country.

Public and private banks have been demanding five days of work a week for a long time. Public banks especially raised this issue. IBA's membership comprising India's public, private, foreign, co-operative, regional rural banks and all Indian financial institutions has also demanded a five-day working week. More than 15 lakh employees work in the banking sector.

What is the government's response to this proposal?
Minister of State for Finance Bhagwat Karad said that IBA has proposed a holiday on every Saturday. However, he did not say whether the demand has been accepted or can be implemented in the future. According to a media report, if this proposal is accepted, the employees will get the benefit of working five days a week, but the number of working hours can be increased.

Earlier in the reports regarding this, it has been expressed that after getting the gift of two days weekly leave for the bank employees, their working hours may be increased.

If the five-day working system is implemented, employees may have to work 40 minutes more every day. Their working timings can be 9:45 am to 5:30 pm.

(PC: iStock)