- By Aditya Pratap Singh
- Mon, 26 Feb 2024 04:45 PM (IST)
- Source:JND
5-Days Working In Bank: The year 2024 may prove to be a pleasing year for bank employees. If the Finance Ministry gives its consent, then by June, bank employees may have 5 working days and they may get a salary hike as well. United Forum of Bank Unions, the association representing bank employee unions, has written a letter to Finance Minister Nirmala Sitharaman recommending a five-day work week for the banking sector.
At present, In addition to Sundays and scheduled holidays, banks remain closed on the second and fourth Saturday of every month.
Also Read: PM Modi Inaugurates Bharat Tex-24 At Bharat Mandapam; Details
In its proposal, the United Forum of Bank Unions has assured that five days of working will not reduce the total banking expenses and there will not be a reduction in total banking hours for customers or total working hours for employees as well. The proposal is made by the agreement reached with the Indian Banks Association.
The association has requested the Finance Minister to review the matter on a positive note and direct the Indian Banks Association to proceed accordingly. United Forum of Bank Unions argued that a five-day working week is already in practice in the Reserve Bank of India and LIC.
Salary of bank employees will increase
The Memorandum of Understanding (MOU) signed between the Indian Banks' Association and bank employee unions last year resulted in an agreement for a 17% wage hike across all public sector banks in India, amounting to Rs 12,449 crore.
If the scheme gets approval, then about nine lakh employees, including 3.8 lakh officers, in PSU banks like SBI and many private sector banks, will get the benefits of salary hike and probably the 2-days off as well.