Banks closed on all saturdays

Responding to a question on whether the Indian Banks Association IBAa representative body of all banks in India, has demanded the implementation of a five-day work week, minister of state for finance Bhagwat Karad said the IBA had indeed submitted a proposal to this effect. Sincebanks closed on all saturdays, banks in India have been shut on the second and last fourth Saturday of every month as a public holiday.

India's banking sector has formally proposed declaring all Saturdays as official holidays, according to confirmation from the Union Finance Ministry in Parliament today. Since , banks in India have observed public holidays on the second and last fourth Saturdays of every month. The demand for a five-day work week has been a prolonged one, particularly from public banks. The IBA represents a broad spectrum of banks in India, including public and private banks, foreign banks with a presence in India, cooperative banks, regional rural banks, and all Indian financial institutions. The banking sector employs over 1. The response from the finance ministry did not specify whether the proposal had been accepted or if it might be considered in the near future. If approved, the transition to a five-day work week could potentially be accompanied by extended working hours during the operational days, as suggested by sources familiar with the matter.

Banks closed on all saturdays

Employees working in public sector banks may get a good news in the coming days. On Tuesday, the Minister of State for Finance, Bhagwat Karad told the Parliament that a proposal has been presented in which, there is a demand to declare every Saturday as a holiday in all the banks of India. This means that there is a demand to work only five days every week in banks. In , the government had implemented a new rule for all the banks of India under which the bank employees would get two extra holidays on two Saturdays in the month. Since then, all the banks of the country remain closed on the second and fourth Saturday of the month. This is a mandatory holiday and applies to banks from public sector to private sector of the country. There has been a long demand from public and private sector banks for working five days a week. Especially public sector banks have raised this issue at many occasions. At the same time, all the public and private banks of India, foreign banks, cooperative banks, regional rural banks and all India financial institutions under the membership of IBA have also demanded to work five days a week. Let us tell you that more than 1.

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Elevate processes with AI automation and vendor delight. Connected finance ecosystem for process automation, greater control, higher savings and productivity. For Personal Tax and business compliances. In India, banks, including private and PSU banks, usually have holidays on the 2nd and 4th Saturday of every month. If a month has five Saturdays, the 5th Saturday is a working day for banks.

No free time on weekdays to head to the bank? Here are a few banks that can serve you on weekends. Which banks are open on weekends? Open an eligible Fifth Third checking account. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements. Tired of moving your schedule around just to make it in time for the bank? Instead of trying so hard to squeeze it in, why not go to a bank that's open on the weekend? Contrary to popular belief, not all banks are closed on the weekends.

Banks closed on all saturdays

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At the same time, all the public and private banks of India, foreign banks, cooperative banks, regional rural banks and all India financial institutions under the membership of IBA have also demanded to work five days a week. Succession Certificate. Currency Converter. Share Via. News Business Banks push for 5-day work week, submit proposal for holidays on all Saturdays. Product Guides - Videos. Here is the list of Saturdays on which a bank has a holiday in for quick reference:. Elections All kinds of banks, including the private sector, public sector, cooperative, regional and rural banks, have holidays on the 2nd and 4th Saturday of every month. Financial Market Segments a The financial market segments which are currently open for transactions on Saturdays will continue to remain open on all working Saturdays. April 27, Responding to a question on whether the Indian Banks Association IBA , a representative body of all banks in India, has demanded the implementation of a five-day work week, minister of state for finance Bhagwat Karad said the IBA had indeed submitted a proposal to this effect. Clear Compliance Cloud. Sign in. Bank Of Baroda Holidays List

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