Big news for bank customers to bank workers. Following the approval of the 8th Pay Commission, conversations have begun about implementing a five-day workweek for banking staff. There is growing speculation that the Narendra Modi government may address this topic in the forthcoming budget.
Bank employees have long been advocating for a five-day workweek from the government. This issue has been a significant concern for millions of bank customers and employees alike: will the government grant banks two days off each week? If this change occurs, banks would need to extend their daily hours by an additional 40 minutes. Currently, banks operate on the first and third Saturdays, while the second and fourth Saturdays are non-working days.
Numerous discussions have taken place between the Bank Employees Association, the RBI, and government representatives regarding the shift to a five-day workweek. However, it remains uncertain whether this will be included in the budget announcement.
Reports indicate that the Central Government has not set any official timeline for this matter. It is still unclear when the proposal will receive formal approval from the Central Ministry. Nonetheless, many believe that an announcement regarding a five-day workweek for banks is unlikely to be made in the upcoming Union Budget.