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Government and popular private sector banks are talking about 15% increase in salary of their employees. Apart from this, banks are planning to implement a five-day working week soon. This has been said in a report of TOI. The five-day work week was approved by the Indian Banks Association (IBA) earlier this year, but the approval is still awaiting a green signal from the finance ministry and the RBI.
Currently second and fourth Saturdays are holiday
Currently, banks are open on the first, third and fifth Saturdays of the month, while the second and fourth Saturdays are bank holidays. Under the 10th Bilateral Agreement of 2015, the Reserve Bank of India (RBI) and the government agreed with the Indian Banks Association (IBA) to declare the second and fourth Saturdays as holidays. Bank unions have been demanding all Saturdays and Sundays off since 2015. If it receives approval from the government and the Reserve Bank, it is proposed to increase the daily working hours of bank branches by 45 minutes.
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