Saturdays to be holidays for banks, five-day work week agreed in principle

THIRUVANANTHAPURAM: It has been agreed in principle to give holidays to banks every Saturday. This will be implemented only after the order and the amendment of the rules. This was a long-term demand of the employees.

The agreement was reached yesterday in Mumbai between the Indian Banks Association and the United Forum of Bank Employees comprising of the bank employees' organizations All India Bank Officers Association and All India Bank Employees Association.

Section 25 of the Negotiable Instruments Act will have to be amended for this. With the approval of the central government, the Reserve Bank should issue an order. With this, the banks will be having five working days in a week.

Employees have to work 40 minutes more per day on Saturdays. Working hours will be from 9.45 am to 5.30 pm. Co-operative, Gramin and private banks will also be closed on Saturdays. Currently, the first and third Saturdays are working days.

New provisions

One month sick leave for women without medical certificate.

Retirement leave encashment has been increased from 240 days to 255.

Sick leave for treatment of children upto 8 years of age for a single father.

Maternity leave can be used for artificial insemination treatment.

12 months maternity leave if more than two children are born in one birth.

60 days special maternity leave if the child dies within 28 days.

30 days sick leave for treatment of partners over 58.

10 days leave in a year for treatment of differently-abled children.