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All India Bank Officers Confederation said that a joint note agreed to recognise all Saturdays as holidays, pending government notification.
Indian Banks' Association and bank employee unions reach a consensus to offer several benefits to PSU bank employees.
5-day work week for banks awaits govt notification: Bank employees may soon work a five-day week, i.e., Monday to Friday. This means that banks will be closed on all Saturdays and Sundays, if government agrees.
17 percent annual hike and five days work for Bank Employees: The Indian Banks' Association and bank worker associations have settled on a yearly pay climb of 17%, prompting an extra yearly outgo of around Rs 8,284 crore for public area banks. Upwards of 8 lakh bank workers are set to profit from the pay climb.
The United Forum of Bank Unions has urged Finance Minister Nirmala Sitharaman for a five-day workweek in a letter. They promise no reduction in total banking hours for customers or employees if implemented, aligning with an agreement with the Indian Banks' Association. The union highlights existing five-day weeks in RBI and LIC.