Bank 5 Day Work Week: Good news for bank employees! Now all Saturdays are bank holidays; 5 day week approved?

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  • Weekly holiday for all public sector banks on Saturday
  • 5 days week from Monday to Friday
  • 2nd and 4th Saturday holiday is cancelled

 

Bank 5 Day Work Week: The Union Finance Ministry has announced good news for the officers and employees of public sector (government) banks. Henceforth, all the public sector banks have announced a weekly holiday on Saturday (Saturday Off). The Union Finance Ministry has issued an official notification in this regard and has directed to implement this decision with immediate effect.

For the past several years, bank employees' unions have been continuously demanding to implement a 5-day work week from Monday to Friday and to give holidays on Saturdays and Sundays. Due to this approval of the central government, an atmosphere of happiness has spread among the bank employees.

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According to the official letter issued by the Union Ministry of Finance,

A 5-day week will be implemented with immediate effect. So far, the holiday on the second and fourth Saturday of the month has been canceled and now banks will remain closed on every Saturday. Due to implementation of 5-day week, the daily working hours of bank employees are likely to be increased by a few minutes. It will also be ensured that this decision will not affect the work of the customers.

Though physical operations of banks will be closed on Saturday, all digital services like ATM, net banking, UPI and mobile banking will continue to function smoothly 24 hours.

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What should consumers be aware of?

Due to this new rule, the customers will have to plan the actual work related to their bank from Monday to Friday only. Check clearance and important work related to the account will now have to wait for Monday.

 

After a late night meeting between IBA and UFBU on Sunday (September 28), the decision to strike the banks was called off. Bank employees had announced a three-day strike over several issues, including the demand for a five-day work week. A high level committee was formed after this demand of bank employees. The committee included representatives of both bank management and bank employees' associations.

How are things going now?

For the past several years, banks have been demanding a five-day work week. Meanwhile, the second and fourth Saturday of the month was also declared a holiday for the banks in the last three to four years. While others continue as usual on Saturdays.

What exactly is the truth?

A gadget notification is going viral on social media. This notification is claimed to have been issued by the Department of Financial Services of the Union Ministry of Finance. The viral document also claimed that the central government has declared every Saturday a public holiday for all public sector banks including SBI.

However, PIB Fact Check has clarified that this claim is false. PIB Fact Check has said that the relevant document circulating on social media is fake.

It has also been clarified that the Union Finance Ministry has not issued any notification to public sector banks to declare every Saturday as a public holiday.

If any suspicious information, message or document related to the central government is found, citizens are requested to send it to PIB Fact Check to verify its authenticity.

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