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5 Days working in Bank: Big update regarding working for 5 days in the bank, just waiting for approval from here

5DaysBanking Latest Update: In the year 2015, the government had declared second and fourth Saturdays as bank holidays. Bank unions are asking to implement 5-day working in banks like LIC.

5 Days working in Bank: The issue of 5 days bank work and two days holiday in the bank has been raised for a long time and now a big update has come in this matter. According to the All India Bank Officers Confederation regarding 5DaysBanking, there has been a consensus on the Bank Holiday proposal on all Saturdays. However, the final decision has to be taken by the government. Not only five days work in banks, but there is also an opinion on a 17% increase in the salary of bank employees.

Way cleared on 5 Days Banking

According to the report published on Business Today, for a long time, bank unions had appealed to implement 5 Days Bank Working in 180 days by bank unions in December 2023 last year. The All India Bank Officers Confederation said that in a joint note, it has been agreed to recognize all Saturdays as holidays till the government notification is issued. It states that the revised working hours will be effective after the government notification.

IBA CEO shared the information

Indian Bank Association CEO (IBA CEO) Sunil Mehta has shared information in this regard through a post on social media platform X. In this post made on Friday, he wrote, ‘Today is an important milestone for the banking industry, as IBA and UFBU, AIBOA, AIBASM and BKSM have signed the 9th joint note and 12th bilateral agreement regarding salary revision for bank officers and employees.

There will be a bumper increase in salary

Along with five days banking, the Indian Banks Association and bank employee unions have agreed on an annual salary hike of 17 per cent. Along with this, there will be a bumper increase in the basic salary. This will put an additional annual burden of about Rs 8,284 crore on public sector banks. At the same time, about 8 lakh bank employees will benefit from the salary hike. According to the IBA, this salary hike will be effective from November 1, 2022.

What is special in the new agreement?

The bank officers’ association said that the new pay scale has been determined by combining dearness allowance (DA) of 8088 points and additional burden on it. Under the new agreement, all women employees will be allowed to take one day’s sick leave per month without giving a medical certificate. Along with this, it can be encashed for up to 255 days on the death of an employee at the time of retirement / during service. The report said that the government can also take a big decision on this.

This change happened in 2015

It is worth noting that in the year 2015, the government had declared second and fourth Saturdays as bank holidays. Bank unions are asking to implement 5-day working in banks like LIC. After bank employees get the gift of two days weekly off, their working hours can be increased. If 5-day working system is implemented in banks, then employees may have to work 40 minutes extra every day. That is, their working time can be from 9:45 am to 5:30 pm.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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