Banks May Remained Shut On Every Saturday
In India, every first and third Saturdays in the bank are open for Indians who are still visiting on the weekend in the digital age. But now the weekend visits to the local branch may not be possible due to the bank holiday on all Saturdays. Employees may work for five days a week. It is a long pending demand of the bank employees.
The Indian Banks’ Association (IBA), in discussion with the United Forum of Bank Employees, has agreed to declare all Saturdays as a holiday, but the employees will have to work more hours per day.
But to implement this new rule, the Indian government, along with the Reserve Bank of India, will also have to accept this five-day week in exchange for longer hours before deciding on a new timing. The deal regarding working days was negotiated separately from wages when a senior union official was absent.
According to reports, 40 minutes will be added to bank employees’ per day working hours in lieu of two additional days off. The decision was taken after LIC’s acceptance of a five-day working week, and stock market plans to align trading with western economies. Bankers acknowledge that even though ATMs and e-banking provide primary services to customers, many people still visit their local branches.
Moreover, cash deposit machines and passbook printing devices have also been set up along with ATMs so people can take advantage of it as a self-service.
After accepting this demand, employees must work daily from 9:45 am to 5:30 pm.
Even though the banks will remain closed in the coming days, people will not face any hassle related to bank operations such as ATMs, cash deposits, online banking, and mobile banking services.