Public Sector Banks will spend over Rs.150 crore in opening branches on Sunday. As per the rules of the Government of India, if a department calls an employee to the office on a holiday, then the employee is entitled to compensation.
There are a total of 7.5 lakh staff in public sector banks. On average, employees will get around Rs.2000 for working on a holiday.
| Name of the Bank | Employee Strength as of 2024-25 |
|---|---|
| Bank of Baroda | 73742 |
| Bank of India | 50564 |
| Bank of Maharashtra | 14591 |
| Canara Bank | 81260 |
| Central Bank of India | 33081 |
| Indian Bank | 39778 |
| Indian Overseas Bank | 20966 |
| Punjab & Sind Bank | 10229 |
| Punjab National Bank | 102746 |
| State Bank of India | 236221 |
| UCO Bank | 21049 |
| Union Bank of India | 73945 |
If we consider that Rs.2000 is paid to 7.5 lac employees, then the total amount comes to Rs.150 crore. Rs.2000 is paid to officers, whereas clerks are paid a much higher amount. But in this article, we have taken Rs.2000 as the minimum amount. If the actual amount for clerks is considered, then banks will have to pay much more than Rs.150 crore.
If we add electricity cost for 1 day only, the amount will increase by around 10 crore. India has 86,535 total branches across its public sector banks, according to recent Reserve Bank of India data. If we consider only Rs.1000 as the cost of electricity, then banks will have to pay around Rs. 8.6 crore as electricity cost for opening branches on Sunday.
