5-Day Banking: Finance Minister’s statement on 5 days work in banks – Do not pay attention to rumors

5 day banking

IBA-Bank Union Pact: A few days ago, agreement has been reached on various issues between the Bank Association and the Bank Employees Union. After that it was being said that 5-day week is going to be implemented…

5-Day Banking: The wait for bank employees to work five days a week and every Saturday off can be long. Just a few days ago, after the agreement on various issues was reached between the Bank Association and the Bank Employees Union, the hope had increased that the bank employees may get the gift of a 5-day work week before the elections. However, now it seems that lakhs of bank employees are going to be disappointed.

Finance Minister made this blunt comment

Finance Minister Nirmala Sitharaman recently gave an update regarding the 5-day week in banks. Finance Minister Sitharaman was addressing the Vikas Bharat Ambassador Campus Dialogue at IIT Guwahati on March 14. After the address, he was asked about the work-life balance of bank employees and the ongoing talk in banks about working only 5 days every week. In response, the Finance Minister bluntly said that rumors should not be paid attention to.

Agreement on these issues last week

Earlier on March 8, an agreement was reached between the banks’ organization Indian Banks Association i.e. IBA and the unions of employees of various banks. In the agreement, it was agreed to increase the salary of bank employees. After that, the salary of employees of various government banks is going to increase by 17 percent. Apart from salary, there has also been discussion on some other benefits including increase in dearness allowance.

Employees have been demanding for a long time
However, the situation regarding an old demand of bank employees has not been clarified. Bank employees have been demanding for a long time that there should be only 5 days of work every week in banks and two days of holiday every week. Currently, bank employees get leave every Sunday, but banks are not closed every Saturday. Banks remain open on the first, third and fifth Saturday of the month.

Holiday is on second-fourth Saturday

Bank employees are also demanding leave on the first, third and fifth Saturday in the same way as they currently get leave on the second and fourth Saturday of every month. After the agreement between the bank union and the association, there were reports that now its approval is still pending for the approval of the Finance Ministry. Approval was expected from the Finance Ministry before the announcement of elections. However, nothing like this has happened till now and the Finance Minister has given a clear indication that this will not happen at present.

Code of conduct will be imposed after the announcement

The Election Commission is going to announce the schedule of Lok Sabha elections this afternoon. The code of conduct will come into force in the country as soon as the Election Commission announces it. After that the central government will not be able to take any decision on the leave of the employees. It is clear that whether bank employees get a 5-day work week or not, it will now be decided by the new government to be formed after the upcoming elections.

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