Bank employees: Banks are talking for a 15% increase in the salaries of their employees. Banks are planning to implement 5 days work in a week soon. Banks currently remain closed on second and fourth Saturdays.
Government and popular private sector banks are talking about 15% increase in the salary of their employees. Apart from this, banks are planning to implement five day work week soon. This has been said in a TOI report. The five-day work week was approved by the Indian Banks Association (IBA) earlier this year, but this approval is still awaiting the green signal from the Finance Ministry and RBI.
Currently there is holiday on second and fourth Saturday
At present, banks remain open on the first, third and fifth Saturdays of the month, while the second and fourth Saturdays are bank holidays. Under the 10th bilateral agreement of 2015, the Reserve Bank of India (RBI) and the government agreed with the Indian Banks Association (IBA) and declared the second and fourth Saturdays as holidays. Bank unions have been demanding holidays for all Saturdays and Sundays since 2015. If it gets approval from the government and the Reserve Bank, then it is proposed that the daily working hours in bank branches will be increased by 45 minutes.
Bank unions are demanding further increase along with the second demand.
Earlier this week, the Indian Banks Association (IBA) had advocated a 15% increase in salaries. But, bank unions are demanding further increase with the second demand. Some banks like Punjab National Bank (PNB) are preparing plans for higher salary hike. The report said that Punjab National Bank has started making higher provisions for salary increase. Public sector banks have set aside funds for 15% increase instead of 10%. Employees and workers unions are demanding higher wages considering the good growth in profits in recent years.
