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Bank Holiday Alert: 5 Working Days in a Week

Bank Holiday Alert: 5 Working Days in a Week

Yes! you have heard it right. Soon there is a possibility that bankers too will be getting weekends off of Saturday and Sunday.  That means the banks in India will be operational for 5 days a week.  As per a memorandum submitted by the All India Bank Employees Association, there is a proposal to limit working days in Bank to 5 days. The article below has complete details on Bank Holiday Alert.

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Bank Holiday Alert

As per multiple media reports, the All India Bank Employees Association has submitted a suggestion to Indian Banks Association (IBA) to change the days bankers work in a week. There is a high possibility that the proposal will be accepted.

Bank employees have always raised concerns related to workload and limited holidays. The recent trust for financial inclusion increased penetration of banking vis Jan Dhan Banks, and stiff RBI Guidelines have added to the workload in the banking sector. While the move is seen as an attempt to provide a much-needed break to working professionals. There are downsides to the move too.

Reports suggest with a change in the Bank Holiday policy it is likely that the daily working hours for banking professionals are likely to increase. The All India Bank Employees Association has proposed that working hours per day may be increased by 30 minutes and the present working hours may be advanced by 30 minutes in the morning. It has also proposed increasing the existing customer service hours/non-cash transaction banking hours by 30 minutes.

According to the proposal, the revised working hours will be from 9:15 am to 4:45 pm instead of 9:45 am to 4:45 pm. The cash transactions hours will be revised to 9:30 am to 1:30 pm and 2 pm to 3:30 pm and non-cash transactions from 3:30 pm to 4:45 pm.

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Bank Holiday Alert: 5 Working Days in a Week_3.1



How are Bank Holidays in India differentiated?

Bank Holidays in India are differentiated into Holiday under the Negotiable Instruments Act, Holiday under the Negotiable Instruments Act and Real Time Gross Settlement Holiday,
Banks’ Closing of Account.

Which makes rules for holidays in Banks?

Indian Banks’ Association makes rules for day to day functioning of banks.

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