Big Banking Update: Three Weekly Closures Likely, Longer Hours Ahead

Bank Holiday: Banks will now be closed these three days a week! Also open at night, big update. The 5-day work week could be implemented once the government gives final approval.

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Bank Holiday

Bank employees have long been demanding a 5-day work week. Finally, a big step has been taken to fulfill that demand. Now, banks will be open for just 5 days a week.

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Recently, an important agreement was signed between the Indian Banks' Association (IBA) and bank employee unions. The 5-day work week could be implemented once the government gives final approval.

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Bank Timings

As per the proposal, banks will be open Monday to Friday, and all public banks will be closed on Saturday and Sunday. This means employees also want the 1st and 3rd Saturdays off.

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RBI's role

The Reserve Bank of India (RBI) plays a key role in any decision on bank holidays and hours. Sources say the central government may issue a final notification after RBI's approval.

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Bank Holiday

However, if holidays increase, working hours will also change. Daily work hours may be extended by about 40 minutes, with banks likely open from 9:45 AM to 5:30 PM.

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5-Day Work Week

It is believed that the central government may approve this proposal by the end of this year. Once approved, a 5-day work week will be implemented in public banks nationwide.

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Bank Employees

If this decision is implemented, a long-standing demand of bank employees will be met. However, the authorities are also looking into the pros and cons for customers.