Government Confirms IBA Proposal for 5-Day Banking

There's been a lot of buzz lately about the possibility of 5-day banking in India. But is it actually going to happen? Let us dive into the latest updates and see what we can expect.

Government Confirms IBA Proposal for 5-Day Banking.

The Indian Banks' Association (IBA) has submitted a proposal to the Government of India for 5-day banking. This was confirmed by Dr. Bhagat Karad, the Minister of State in the Ministry of Finance, in response to a question in the Rajya Sabha.

The government has also indicated its willingness to declare all Saturdays as holidays for banks. Currently, only the 2nd and 4th Saturdays are holidays.

What Does This Mean for Bank Employees?

If the government approves the IBA proposal, bank employees will be working only 5 days a week. This could have a significant impact on their work-life balance and overall well-being.

What's Next?

There's a meeting scheduled for December 7th between the government and representatives from the banking industry. Hopefully, we will get more concrete information about the timeline for implementing 5-day banking at this meeting.