IBA Demand A 5 Day banking and submit official Proposal

Let us see about 5 Day banking…..

Meanwhile, recently there have been reports that PSB Bank employees can expect a salary hike of 15% to 20% and implementation of a five-day work week by the middle of December as the 12th bipartite settlement talks between bank unions and associations and the Indian Banks’ Association (IBA) have reached the final stage. IBA has already recommended to the Government for declaration of all Saturdays as holiday under NI act for Banking industry in line with negotiations with unions and the same will be pursued. The unions urged for implementation of the same before signing of the final bipartite agreement.

• Working hours may be increased by 40 minutes per day
• Present respective timings of working hours may be preponed 20 min in the morning and 20 min in the evening.

Sources said employees will work 40 min more daily after 5 Day banking but existing cash transaction hours remain same from 10:00 am to 4:00 pm.

How long the demand for 5 day banking has been pending

For the past many years, bank employees have been demanding a five day work week, as it is prevalent all over the world and also as it is prevailing in other segments in India. It is unexplainable why the bank management (read it as government) has taken so many years to concede the same, while the government itself has adopted a five day week.

Why five day banking is important for bankers

Bankers deserve work life balance. Most of the bank officers are posted outside their home place through out India and on most of the days work for more hours than for which they are paid. Because of this families of bank officers suffer a lot. Most of the camps and melas are organised by banks on holidays, which results in increased work load and stress among bank officers. Due to excessive work load and high proclivity to stress induced frauds from public, bright and talented youngsters are reluctant to join banks now. About two decades Bank PO job was used to be as classy as IAS, but now it has retrograde to a great extant, attracting only very average type of talent. Therefore, in order to attract bright talented youngsters to banks in junior and middle level management and with the availability of most of the banking services to customers digitally 24×7, time has come to introduce 5 days week branch banking in india. This will make banking an attractive carrier option among modern youths and enable bankers to live a healthy life and achieve work life balance. A happy and healthy banker only can give good customer service and can properly discharge his duties to needy public.

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