IBA considering 5-day work week for bank staff

The Indian Banks Association (IBA) is considering bank unions’ demand for a five-day work week but for which the total working hours have to be increased by  40 minutes per day, according to the circular issued by the All India Bank Employees’ Association.

At the bilateral meeting between the Unions and IBA on February 28, it was agreed upon that to enforce a five-day work week, “it has emerged that the total working hours can be increased by 40 minutes per day with cash transactions from 10 am to 4 pm and non-cash transactions upto 4-30 pm.”

With the proposal getting IBA’s nod, it will be sent to the finance ministry and subsequently to the Reserve Bank of India (RBI) for approval.