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  • Five-Day Work Plan in Nationalised Banks

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    The document is a response from the Minister of Finance in India to a question asked in the Rajya Sabha (upper house of the Indian parliament) regarding demands for implementing a five-day work week in nationalized banks. The Minister answers that the Indian Banks' Association has proposed declaring all Saturdays as banking holidays. Currently, the second and fourth Saturdays of every month are public holidays for banks as declared by the government in 2015 based on an agreement between the IBA and bank unions/associations.

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    The document is a response from the Minister of Finance in India to a question asked in the Rajya Sabha (upper house of the Indian parliament) regarding demands for implementing a five-day work week in nationalized banks. The Minister answers that the Indian Banks' Association has proposed declaring all Saturdays as banking holidays. Currently, the second and fourth Saturdays of every month are public holidays for banks as declared by the government in 2015 based on an agreement between the IBA and bank unions/associations.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Five-Day Work Plan in Nationalised Banks

    Uploaded by

    m9671277922
    The document is a response from the Minister of Finance in India to a question asked in the Rajya Sabha (upper house of the Indian parliament) regarding demands for implementing a five-day work week in nationalized banks. The Minister answers that the Indian Banks' Association has proposed declaring all Saturdays as banking holidays. Currently, the second and fourth Saturdays of every month are public holidays for banks as declared by the government in 2015 based on an agreement between the IBA and bank unions/associations.

    Copyright:

    © All Rights Reserved
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    GOVERNMENT OF INDIA

    MINISTRY OF FINANCE
    DEPARTMENT OF FINANCIAL SERVICES

    RAJYA SABHA
    UNSTARRED QUESTION NO. 211
    ANSWERED ON 5th DECEMBER, 2023 (TUESDAY) / AGRAHAYANA 14, 1945
    (SAKA)

    FIVE-DAY WORK PLAN IN NATIONALISED BANKS

    211. SMT. SUMITRA BALMIK:

    Will the Minister of FINANCE be pleased to state:

    whether any demand has been made by the Bank Union or IBA regarding the implementation
    of the five-day work plan in nationalized banks or whether there is any plan to implement it, if
    so, the details thereof?

    ANSWER

    MINISTER OF STATE IN THE MINISTRY OF FINANCE


    (DR. BHAGWAT KARAD)

    Yes, IBA has submitted a proposal to declare all Saturdays as banking holiday. In regard to the
    Saturdays being public holiday, subsequent to 10th Bipartite settlement/ 7th Joint note signed
    between IBA and Workmen Unions/Officer Associations, Government, in exercise of powers
    conferred by section 25 of the Negotiable Instruments Act, 1881, vide notification dated
    20.8.2015, had declared the second and the fourth Saturdays of every month as public holiday
    for banks in India.

    *****

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