Bank Holiday : There is great news for bank employees across the country. According to the new rule, banks will now operate for only five days a week, and employees will get two days off every week. Let’s find out what the latest update is about this change and when this new rule will come into effect. The complete details are explained below.
Bank Holiday Rules: Banks to Remain Closed Every Saturday and Sunday
A few years ago, banks introduced holidays on the second and fourth Saturdays of each month. Now, another new rule is likely to be implemented — under which, banks will operate only five days a week. This means employees will enjoy two holidays every week. This comes as a big relief and positive development for bank employees.
Once this rule is implemented, bank employees will experience reduced workload and have two weekly holidays, allowing them to spend more time with their families and have some personal relaxation. Let’s see when this “five-day banking week” might officially begin.
Agreement Already Reached Between IBA and Bank Unions
An agreement regarding a five-day work week in banks has already been reached between the Indian Banks’ Association (IBA) and bank employee unions. However, it still requires approval from the Reserve Bank of India (RBI) and the Government of India.
If both the government and RBI approve this proposal, banks across the country will officially shift to a five-day work schedule with two weekly holidays.
Currently, neither the RBI nor the government has given formal approval or made an official announcement. Bank employees, however, remain hopeful and are eagerly waiting for a decision.
Final Decision Depends on Government and RBI
Many employee associations and bank unions have been demanding for a long time that every Saturday should be declared a holiday in addition to Sundays.
Since Sunday is already a fixed weekly holiday, implementing this new rule would mean employees will work for five days a week and get two consecutive holidays (Saturday and Sunday). This would provide much-needed rest and work-life balance for employees.
Now, it entirely depends on the RBI and the Government of India to take the final call on when or whether to implement this proposal.
Possible Change in Bank Timings
If the new five-day work week rule is approved, bank working hours may also be adjusted to maintain service levels.
According to reports, banks may open earlier at 9:45 AM instead of 10:00 AM and close later at 5:30 PM instead of 4:00 PM.
This would mean employees would work an additional 45 minutes each day, compensating for the extra day off every week.
Bank Employees Awaiting the Final Decision
The implementation of the five-day work rule will only take effect after official approval from the government and the RBI.
Bank employees are eagerly waiting for this decision, as it would be a major step toward better working conditions and employee welfare.
In 2015, the government and RBI approved the rule granting holidays on the second and fourth Saturdays of each month.
Now, employees are once again hopeful that a new system — five working days and two weekly holidays — will soon become a reality.
