India’s banking sector has formally proposed declaring all Saturdays as official holidays, according to confirmation from the Union Finance Ministry in Parliament today.
Responding to queries about the Indian Banks Association (IBA) seeking the implementation of a five-day work week, Minister of State for Finance, Bhagwat Karad, affirmed that the IBA had indeed submitted a proposal to this effect.
Since 2015, banks in India have observed public holidays on the second and last four Saturdays of every month. The demand for a five-day workweek 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 1.5 million individuals.
Next Story :
A police head constable was arrested on the charges of misbehaving with a woman at district headquarters hospitals, here on Thursday.
A Delhi court on Thursday extended judicial custody of former Delhi Deputy Chief Minister Manish Sisodia, arrested in the excise policy case being probed by the Central Bureau of Investigation (CBI), by 19 days.
The Home Ministry on Thursday decided to give VIP security to Congress President Mallikarjun Kharge, thereby granting him Z Plus security.
The last date for payment of fee and submission of online applications fro admissions to Class VI and vacant seats in Classes VII to X in the Telangana State Model Schools has been extended upto March 2.