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Read- Formula to do 6 days work in 5 and what are the advantages and disadvantages for the customers? , Bank 5 Day Working; Rajasthan Experts On Productivity Tips & Consequences

Read- Formula to do 6 days work in 5 and what are the advantages and disadvantages for the customers? , Bank 5 Day Working; Rajasthan Experts On Productivity Tips & Consequences
Read- Formula to do 6 days work in 5 and what are the advantages and disadvantages for the customers? , Bank 5 Day Working; Rajasthan Experts On Productivity Tips & Consequences

Jaipur5 hours agoAuthor: Nikhil Sharma

A big change is going to happen soon in the banking system of the country. Now banks will open only five days a week. After the implementation of Five-Day Week, all the banks of the country will be completely closed on Saturday. Till now banks were closed only on the second and fourth Saturdays of the month.

The biggest change that will happen due to the five-day week will be in the banking hours. Bank associations believe that the reduction of two Saturdays in the month will affect banking for about 13 hours. To compensate for this, bank employees will have to work 40 minutes more every day. The updated timings of the banks are yet to be decided. But according to the proposal made by the Bank Association, banking hours can be increased with an increase of 10 minutes in the morning and 30 minutes in the evening. Due to this, 5 days from Monday to Friday, the customer will get an additional 40 minutes for transaction every day.

Why the need for five-day week?

Footfall decreased due to increase in digital transactions

The major reason behind the five-day week is the fast growing digital transactions in the country. Banking experts point out that the government is constantly saying that digital transactions including internet banking and UPI are on the rise. In such a situation, the person does not need much cash. Even if a little is needed, those needs are fulfilled by the ATM. This is the reason why the need for five-day week is now being felt more in banks. Although the demand for five-day week in banks was there long back.

If you look at the recent report of PIB regarding the digital transactions happening in the country, it has increased rapidly in the last few years. In 2017-18, where there used to be 2071 crore digital transactions in the country. Whereas in 2022-23, till 31 December, it increased to 9192 crore transactions. Similarly, if we talk about the amount of digital transactions, then in 2017-18 there was a digital transaction of 1962 lakh crores, which has become 2050 crores till 31 December in 2022-23. However, during the period of Kovid, there was a significant increase in it.

78 banks including 12 public sector banks and 21 private banks covered

All the banks of the country will come under the purview of this new system. There are 78 banks including 12 government, 21 private banks. All banks including Gramin Bank, Small Finance Bank and Local Bank will come under the ambit of Five Day Week. All major banks including SBI, BOB, PNB, ICICI, HDFC, Axis are involved in this. Talking about Rajasthan, these include Baroda Kshetriya Gramin Bank and Rajasthan Marudhara Gramin Bank in Rajasthan.

Big relief for 18 lakh bankers

Due to five-day week, about 18 lakh bankers across the country will get a big relief. According to the associations associated with banks, there are about 8 lakh government and about 9 lakh private bankers across the country. At the same time, this will be a big relief for about 18 lakh bankers including rural and other banks. These will include both officers and clerk level bankers. Bankers were demanding this for a long time.

Due to five-day week, about 18 lakh bankers across the country will get a big relief. Photo: symbolic.

Due to five-day week, about 18 lakh bankers across the country will get a big relief. Photo: symbolic.

Five-day week was demanded since 2015

In the early days in the banking industry, there used to be a 6-day week. After this, the system of half day started on every Saturday. For a long time this system prevailed in the banking industry. After this, in the 10th settlement of banks in May 2015, this holiday was started for two weeks on the second and fourth Saturdays of the month. Now after almost 8 years, preparations are being made for the holiday in full swing on Saturday. A poll has also been given in this news, you can express your opinion by participating in it.

The system will be implemented only with the approval of the government.

A consensus has been reached among the bank associations regarding the five-day week. Consensus has been reached between Indian Banks Association and IB and United Forum of Banks. Now this proposal has been sent for the approval of the government. The management of all the banks have also given their consent for this. As soon as the consent of the government is received, along with the intervention of RBI, its orders will be issued to the banks. This system can be implemented in the banking system in the coming 2 to 3 months.

Five-day week is already in most departments

Five-day week is already in force in most of the central and state government departments in the country. There is a five-day week in most of the departments except the railways in the center. Apart from this, there is a five-day week in most of the departments except emergency and operations related services in the state. Talking about parallel departments from banking, there is five day week in all departments including LIC, Reserve Bank of India.

Vinil Saxena

Vinil Saxena, former president of the National Confederation of Bank Employees and All India Bank of Baroda Employees Federation, says that digitization has now taken place. The government says that maximum use of net banking is being done. Footfall in banks has reduced. Just as soon as the approval comes from the government, they will send it to IBA and then IBA will inform all the banks. Almost all departments have a five-day week. Now soon this will be implemented in banks also.

Brijkishore Saraf

Brij Kishore Sarraf, Chief Manager at SBI, says that the bank will be able to do the work of regulatory compliance with quality and focus. Time will be available for extra effort for marketing and business. The customer will be able to get good time and service for non-financial transactions. Loan work, account amendment work or any inquiry. Banks will be able to do outreach to customers for banking schemes etc. Banks will also get good business from this.

rupam roy

Rupam Roy, General Secretary of All India Bank Officers Confederation, says that the world has become a four day work week. Digital banking will also get a boost as we now have a five-day week. 90 percent of the work in the branches is done through the green channel. Digital transactions have also increased. People are paying through UPI only. This is necessary to reach the global standard. This will also increase business.

The article is in Hindi

Tags: Read Formula days work advantages disadvantages customers Bank Day Working Rajasthan Experts Productivity Tips Consequences

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