Bank employees were demanding 5 working days for a long time. So far the government has not accepted this demand of the employees, but it is expected that by the end of this year the government can fulfill this demand.
In fact, recently an agreement has been reached between the Indian Banks Association (IBA) and the employee unions. Now only the approval from the government is awaited.
If the government approves, then the banks will open only five days a week. This means that the banks will remain closed on Saturdays and Sundays. Let us tell you that currently the banks are closed on the second and fourth Saturdays of every month and every Sunday. Apart from this, banks in many cities remain closed due to festivals.
RBI’s important role along with the government
The government and the Reserve Bank of India (RBI) play an important role in the approval of the bank’s 5 working days. Actually, this proposal of the bank will go to the RBI because RBI controls all the operations related to the bank. The government will approve the proposal only after it is approved by the RBI.
There will be a change in the working hours of the bank
According to media reports, if the bank gets approval for 5 working days, then the working hours of the bank will also change. It is believed that the daily working hours may increase by 40 minutes. This means that the bank will be open from 9.45 am to 5.30 pm. Currently, banks are open from 10 am to 5 pm.
Bank Open Timing – 9.45 am
Bank close timing- 5.30 pm
When will the notification come
It is expected that the notification may be issued by the government by the end of the year or early 2025. If approval is received from the government, then Saturday can be recognized as a holiday under the Negotiable Instruments Act.
