AIPNBOA says 5-day Banking is confirmed

The AIPNBOA has said that according to the clarification received by the association, the Indian Banks’ Association (IBA) and the management of certain Public Sector Banks have assured 5-Day Banking. However, the proposal still requires further fine-tuning to meet statutory compliance requirements. The association said discussions are being continued to make 5-Day Banking a reality, and a high-level committee has been created to take the discussions forward in a time-bound manner.

The development is important for bank employees because the demand for 5-Day Banking has been one of the major issues behind the recent agitation. The association said that while the deferment of the strike has disappointed employees, discussions regarding the implementation of 5-Day Banking are still continuing. The statement indicates that the proposal has received assurances from IBA and the management of some PSBs but has not yet been fully implemented.

The association also clarified that AIPNBOA is an affiliate of AIBOC and was not directly involved in the earlier conciliation meetings with the Department of Financial Services (DFS) or IBA. Therefore, it was not aware of the reasons behind the deferment of the strike when the decision was taken.

For now, 5-Day Banking remains a key issue for bank employees, and the latest statement indicates that discussions are still underway. The association said that the proposal requires further work on statutory compliance and that a high-level committee has been formed to continue the discussions. However, the circular does not announce a final date for the implementation of 5-Day Banking.

0 Comments

*Enter your name

*Email not valid.

*2 characters minimum.

Do not change these fields following