Indian Banks Association considers 5-day work week for bank employees

The Indian Banks Association (IBA) is said to be considering bank unions’ demand for a five-day work week, sources aware of the development said. But the working hours could be increased by 50 minutes each day to compensate for the lost hours.

“They (IBA) are favourably considering it,” S Nagrajan, general secretary, All India Bank Officers Association, told Business Standard.

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

Currently, bank employees have to work full day on alternate Saturdays of every month. So,