Bank holidays: There is good news for government bank employees. While their salary may increase by 15 to 20 percent from mid-December, they may get the facility to work only 5 days a week.
This year can end with double happiness for the employees of public sector banks i.e. government banks. Their salaries may not only get a 15% to 20% increase, but they may also be rewarded for working five days a week by mid-December. Because, the 12th bilateral negotiation between the bank unions and the Indian Banks Association has now entered the final stage. Wage revision and change in working days will also be applicable to regional rural banks.
Giving this information to Financial Express, sources said, “This is the first time in the history of negotiations that a proposal for salary increase is being initiated. It will probably be between 15% to 20%.” He said the five-day working week will be announced either by the Center or the IBA along with the wage hike notification or soon thereafter.
Work in banks will start early and close 30-45 minutes late.
“Working hours on weekdays will start early and close 30-45 minutes later than the existing working hours,” sources said. He said that this will also save fuel used for travel and electricity due to closure of branches. This inconvenience to customers far outweighs the savings and other factors.
Employees also need more time with family. Bank branches will remain closed on weekends during the five-day working week. Employees may be asked to work additional hours during the week to compensate for the loss of working hours.
What will be the impact on bank customers: On weekends, customers can withdraw or transfer cash through ATMs if bank branches are closed. Sources said the only challenge of the five-day work week is depositing cheques. Check collection will be affected for these two days. Sources said employees of insurance companies, state governments and central government have a five-day working week, but extending this facility to bankers too is a step in the right direction.
