Bank employees may soon get 5-day work week, but there's a catch

Bank employees are likely to have a five-day work week as media reports suggest that the Indian Banks Association (IBA) is said to be considering bank unions’ demand. The reports, however, said the working hours might be increased by 50 minutes each day in the five-day work week.

The Indian Banks' Association (IBA) has, in principle, agreed to give all Saturdays off, following discussions with the United Forum of Bank Employees, said the reports. The government, as an owner of public sector lenders, and the Reserve Bank of India will also have to accept this, before IBA decides on new a five-day work week.

S Nagarajan, general-secretary of All India Bank Officers’ Association, was quoted by Times of India as saying that the government will have to notify all Saturdays as holidays under Section 25 of the Negotiable Instruments Act.

Currently, bank employees work on alternate Saturdays.

According to the TOI report, employees will need to work 40 minutes more everyday from 9.45 am to 5.30 pm.

Banks will remain closed for up to 12 days in the month of March, including second and fourth Saturdays, and Sundays.

Many festivals are there in the month of March 2023 such as Holi, Chaitra Navratri, Ram Navami, and more.

In May 2021, LIC announced that Saturdays will be a holiday for its employees.

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