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07 Dec, 2023 06:44 AM

Rajya Sabha Q&A : Implementation of the five-day work in banks

Rajya Sabha Q&A : Implementation of the five-day work in banks

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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