Banks are open five days a week starting in December, with new hours and schedules.
The banks will only be open five days a week starting in December. In the afternoon, transactions will be feasible. Why was this decision made by the national government?Banks will only be open five days a week from now on. There will be no transactions for two days in a row. In addition to Sundays, banks are already closed on the second and fourth Saturdays. For these two days, they will likewise be closed. This decision is being made by the national government. For two days in a row each week, all transactions will be closed. On other days, though, banking hours will be extended.
Except on Saturdays and Sundays, banking will be open until 5:30 PM every day. customers will therefore be able to carry out financial activities from dawn to dusk. To make up for the two additional days off, workers will need to put in an additional 40 minutes on the remaining days. According to information obtained, the central government intends to decide on this issue definitively starting in december of this year. In march 2024, IBA and bank unions signed their ninth Joint Memorandum of Understanding (JMO). It also suggests operating five days a week. Nevertheless, banks will only be open for five days, and the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) and the Ministry of Finance must approve its execution.
It appears doubtful that bank workers' demands for a five-day workweek will be met in December. The All india bank Officers Confederation (AIBOC), which is upset over this, has stated that it will shortly organise a demonstration. According to AIBOC General Secretary Rupam Rai, the government has not yet made any announcement regarding a five-day workweek. The United Forum of bank Unions (UFBU) and all of our affiliated unions have been urged to join the movement. The Prime Minister's office and the government have been requested by AIBOC to prioritise this proposal. According to the union, this will raise the standard of operation in the banking industry in addition to being essential for the wellbeing of the workers.