5 Days working for Banks!

Five Days working for Banks!

The demand for five days’ banking which was taken up by All India Bank Officers’ Confederation very seriously during the 10th Bipartite Settlement. It was partially met by getting two Saturdays off.

In the banking industry, bankers have proved that nothing is impossible for them including implementation of a voluminous and strenuous job like demonetisation. 

The opening of more ATMs, expansion of alternate delivery channels and rapid digitalisation, five days’ banking will not adversely affect customer service. Implementation of five days’ banking will ease the stress on Bank employees and particularly the Officers’ fraternity and will help in enhanced strength and efficiency. 

The government should, however, be conscious that the load on officers and staff has increased tremendously over the past decade. It merits mentioning that the number of employees in public sector banks has gone up by just 10 percent to a little over eight lakh even as business volumes doubled to about ₹13 crore per employee in the last five years.

Today, with advances in computerisation and facilities such as ATMs, phone, Net and mobile banking, through business correspondences (BC) & Customer Service points,  those requirements of cutomers are adequately taken care of and it is perhaps no longer necessary for banks to remain open six days a week.

Taking exception to the process of banks calling its officers to work on Sundays and other holidays, he said this matter has been brought to the notice of the IBA but the issue is yet to be resolved. Bank's own deposits are being converted into mutual funds and insurance products. This is a major threat to the banking industry.Staffs' performance and motivation levels fall compared with those on a five-day week. It gives mental satisfaction and you return to work fresh and motivated

The RBI itself enjoys a 5 day week. RBI applies international norms to Indian banks in the matter of capital adequacy, income recognition ,and asset classification. But why does it baulk at allowing a five day week for Indian banks when banks all over the globe work only for five days. With the availability of Internet banking,ATM'S etc basic services would continue to be available to customers

These figures don’t fully reflect the time and energy spent on many government schemes also. Maybe it is time for Indian Banks’ Association to give a fair trial to the five-day week and give bankers a break. 

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Hi! It is absolutely friendly conversation and I want your Small Review on the issue. I am glad to hear your thoughts! ConversionConversion EmoticonEmoticon