Thursday, July 18, 2024

Banks will soon have a five-day week leader









New Delhi; News Agency: It is likely that the announcement of a general five-day week for the employees of public and private banks in the country will be made by the central government before the implementation of the election code of conduct. This will be good news for 15 lakh 40 thousand bank employees across the country.

According to the December agreement between the Indian Banks Association and the Bank Employees' Union, the demand for a 17 percent pay hike has been accepted and will be effective from April 1. In this agreement, it was said that the five-day week should also be decided within 180 days. Accordingly, this proposal has now gone to the Ministry of Finance. It can be announced in due course i.e. before the code of conduct.
There are 15 lakh 40 thousand bank employees in the country. It includes employees of payment banks, small finance banks along with private and public banks. There are 95 thousand employees in regional and rural banks. Currently RBI, LIC already has a five day week. Bank employees get holiday on 2nd and 4th Saturday. A five-day week can be made applicable to them by making such a change in Section 25 of the Essential Services Act.









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