Bank Employees 5 Days Working and 17% Salary Hike Details

Bank Employees 5 Days Working: Banks at present are working on the first and third Saturdays every month and these are also closed on the second and fourth Saturdays. The bank employees will soon be working five days per week, i.e., from Monday to Friday.

Bank Employees 5 Days Working

This directly means that the banks will be closed on all Saturdays and Sundays. There has been the successful conclusion of the All India Bank Officers’ Confederation stated in a press statement that discussions between the Indian Banks Association and the All India Bank Officers’ Confederation will culminate in the signing of the 9th Joint Note on March 8, 2024. In this way, there will be 5 days working for the bank employees. Bank Employees 5 Days Working

There is also a press release which states that “The Joint Note recognizes all Saturdays as holidays, pending government notification. The revised working hours will be effective after notification by the government.”

Bank Employees 17% Salary Hike

There is also an agreement that the annual increase will be 17 percent which will certainly result in an additional yearly outlay of around Rs 8,284 crore for the public sector banks. Also, the salary boost, which will take effect in November 2022, is expected to benefit up to 8 lakh bank workers as per the latest information.

Bank Employees 5 Days Working

Good News For Bank Employees

When the government approves of the same then only this decision will be applicable. All Saturdays will be notified as holidays if it is approved under Section 25 of the Negotiable Instruments Act. According to a news report provided by the Times of India from 2023, “According to section 25 of the Negotiable Instruments Act, the government will be required to declare every Saturday a holiday.” Bank Employees 5 Days Working

The agreement had been in place for a while, it was not subject to wage negotiations. Because it owns the public sector banks then and only then the government will be looking into this. Because there is a determining of the timing of most interbank activities the RBI must also accept the plan.

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New Bank Timing

According to some reports, the employees will be working an additional 40 minutes per day from 9:45 a.m. to 5:30 p.m. but it is not clear yet.

Will there be any impact on Regular Bank customers?

All those bank customers who will now keep their bank-related work for Saturdays pending will certainly be impacted. Over time mobile banking, ATMs, and internet banking have emerged as the primary methods through which most of the customers access their bank-related activities with banks offering so many facilities. Bank Employees 5 Days Working

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