Bank Employees Union Successfully Advocates for Five-Day Workweek
Posted on: 09/Aug/2023 1:45:57 PM
In a significant development, a unified voice from various bank employee unions has led to potential changes in the banking sector`s operational schedule. Currently, banks adhere to a workweek that encompasses the first and third Saturdays of each banking month, with the remaining Saturdays designated as holidays. However, a collective demand from employee unions sought to elevate Saturdays to the status of official bank holidays.
The Confederation of Indian Banks, responsive to this mounting demand, has formally communicated the employees` appeal to the Finance Ministry. Should the Ministry grant its approval, a paradigm shift is imminent: banking institutions will transition to a streamlined five-day operational model, operating solely from Monday to Friday.
This proposed alteration, while marking Saturdays as holidays, is anticipated to be accompanied by a modest extension of banking hours. The envisaged extension, an additional 45 minutes beyond the standard daily operational duration, aims to compensate for the non-working Saturdays.
The influential banking association remains optimistic about the Finance Ministry`s reception of this transformative proposal. If sanctioned, the banking industry will embrace an efficient and modernized rhythm, aligning itself with the global trend of a five-day workweek, while ensuring uninterrupted financial services for the populace.
