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Five Days Banking For Public Sector Banks In India

There is a good news for stress burden employees of Public Sector banks. The Union of Bank’s Employees are in talk with the IBA (Indian banking Association) for Five days banking. It is heard that management is agreed with the proposal and it will be announced soon. This is the confirm news or rumor, I don’t have any idea but heard from many of the friends working with Public Sector Banks.Union had already initiated this read this.

The only point of non-agreement or you may say it the delay in implementation due to extension of number of hours on each day of five days stretch. It is mainly the point of disagreement between the union and management.

The main disagreement on the stretch of time which will be expanded on each day from Monday to Friday by approx One hours. This extra time will be stretched during the morning hrs or evening hrs or by breaking the time between morning and evening.

In my view there is no loss in this proposal because the number of working hours of Saturday are equally shared on other five days. Public will get another few hours for transaction. On Saturday there is only three hours banking for the customers, which is not at all sufficient.

Now a days maximum of banking are through ATM and Internet Banking so it will not impact much on the customer or Business. For management point of view it is also beneficial because the Operating cost on Saturday is much more than the actual business generated.

Hopefully this will be implemented and lot of Bank employee will get another peaceful day to live with their family.

It is recently heard that There will be the weekend holiday for PSB from June 1st 2012.

About raj

CAIIB certified bankers by profession. This blog was started to help individuals from complicated financial and Banking terminologies. Updates on Taxation, Investment Ideas, Mutual Fund and Financial Planning.

4 comments

  1. sab jhoot hai IBA to seven days k kiye bol rha hai…

  2. stretching the time will not be beneficial to anyone, the onus will only be on the people working in banks. Even without stretching the time bankers have little time for themselves. Bankers indeed deserves 2 days as holiday per week.

  3. murli venkatraman

    All the Banks unions must come together on this vital issue without any differences of working hours etc. It is time for all the recognised unions to do something good in the interest of the bank employees. The union leaders should negotiate with the government with an open mind on this issue.

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