• Source:JND
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Bank Timings In India:  A significant change in the Bank's working days could be witnessed in the coming days as the government and bank employee unions work together to find a solution to the long-standing demands of five days working a week. After the Indian Banks Association (IBA) and the unions reached an agreement in this direction. Now the proposal is awaiting the nod of the central government.

A green flag by the centre and Reserve Bank to the proposal would mean that the banks will remain open for only five days - from Monday to Friday - in a week and there would be complete holidays on Saturday and Sunday. Currently, only bank branches remain closed for the second and fourth Saturday of the month.

Bank Working Timing's To Be Changed

The change in Bank working days will not affect the total working hours of the bank in a week as the proposal also seeks to increase the daily timing of the banks. As per a Dainik Jagran report, the timing can be increased by 4 minutes per day.

The bank might open from 9:45 in the morning and close at 5:30 in the evening, marking a time increase in the daily schedule.

RBI's Stance Will Decide

The government and the Reserve Bank of India (RBI) play a crucial role in the approval of the 5-day workweek. In fact, the proposal will first go to the RBI, as it controls all banking operations. Only after the RBI's approval will the government give its final consent.

AIBOA Asks Banks Body To Fast-Track Proposal

Earlier, the All India Bank Officer's Association urged the Indian Banks Association to fast-track its negotiations with the Government of India for a Five Days Banking provision.

"We pointed out that even though the IBA has agreed to the Unions’ demand and recommended to the Government vide MOU dated 7-12-2023 and Settlement/Joint Note dated 8-3-2024, the issue is still pending with the Government. IBA informed that the issue is being pursued by them with the Government. From our side, we pointed out that we have been patiently awaiting Government’s approval of the same and conveyed that any further delay would only result in industrial unrest and UFBU would be constrained to take decisions to ventilate the agitated feelings of the workforce," it said in one of its circulars.

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