Banks Press for 5-Day Week, Holiday on Saturday-Sunday

New Delhi: The Indian Banks Association (IBA) has formally proposed the Union Finance Ministry to declare all Saturdays as official holidays along with Sundays.

Responding to queries in Parliament about the Indian Banks Association (IBA) seeking the implementation of a five-day work week, Minister of State for Finance, Bhagwat Karad, affirmed that the IBA had indeed submitted a proposal to this effect, reported India Today.

Since 2015, banks in India have holidays on the second and last or fourth Saturdays of every month. But since long the banks are demanding a five-day work week. Around 15 lakh employees work in the banking sector in the country in public and private banks, foreign banks with a presence in India, cooperative banks, regional rural banks, and all Indian financial institutions.

If approved, a five-day work week may be accompanied by extended working hours during the operational days.