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  • Financial Express

Five-day working week for banks some time away

A five-day working week at banks may still be some time away. While an in-principle agreement has been reached between the Indian Banks’ Association and public sector bank unions, a broader consensus will have to be reached with private sector banks and cooperative banks before this can be implemented, sources indicated.

Negotiations between the Indian Banks’ Association and the United Forum of Bank Unions have been completed but the proposal has to be forwarded to the ministry of finance. Discussions will also have to be conducted with the Reserve Bank of India and private sector banks, cooperative banks and regional rural banks will have to be brought on board for a five-day working week before it can be notified by the government, explained the source.

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