Banks closed on all saturdays

India's banking sector has formally proposed declaring all Saturdays as official holidays, according to confirmation from the Union Finance Ministry in Parliament today. Sincebanks closed on all saturdays, banks cranbrook dodge India have observed public holidays on the second and last fourth Saturdays of every month. The demand for a five-day work week has been a prolonged one, particularly from public banks. The IBA represents a broad spectrum of banks in India, including public and private banks, foreign banks with a presence in India, cooperative banks, regional rural banks, and all Indian financial institutions.

Responding to a question on whether the Indian Banks Association IBA , a representative body of all banks in India, has demanded the implementation of a five-day work week, minister of state for finance Bhagwat Karad said the IBA had indeed submitted a proposal to this effect. Since , banks in India have been shut on the second and last fourth Saturday of every month as a public holiday. The demand for a five-day work week has been a long standing one of banks, particularly the public ones. The IBA membership comprises all public and private banks in India, foreign banks that have offices in India, as well as all cooperative banks, regional rural banks and all India financial institutions. The workforce employed in the banking sector is estimated at over 1.

Banks closed on all saturdays

Elevate processes with AI automation and vendor delight. Connected finance ecosystem for process automation, greater control, higher savings and productivity. For Personal Tax and business compliances. In India, banks, including private and PSU banks, usually have holidays on the 2nd and 4th Saturday of every month. If a month has five Saturdays, the 5th Saturday is a working day for banks. However, many people are confused about which Saturday a bank is working and which Saturday the bank is closed. Here is the list of Saturdays on which a bank has a holiday in for quick reference:. January 13, January 27, February 10, February 24,

News Business Banks push for 5-day work week, submit proposal for holidays on all Saturdays.

Employees working in public sector banks may get a good news in the coming days. On Tuesday, the Minister of State for Finance, Bhagwat Karad told the Parliament that a proposal has been presented in which, there is a demand to declare every Saturday as a holiday in all the banks of India. This means that there is a demand to work only five days every week in banks. In , the government had implemented a new rule for all the banks of India under which the bank employees would get two extra holidays on two Saturdays in the month. Since then, all the banks of the country remain closed on the second and fourth Saturday of the month.

No free time on weekdays to head to the bank? Here are a few banks that can serve you on weekends. Which banks are open on weekends? Open an eligible Fifth Third checking account. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements. Tired of moving your schedule around just to make it in time for the bank? Instead of trying so hard to squeeze it in, why not go to a bank that's open on the weekend? Contrary to popular belief, not all banks are closed on the weekends. There are some that stay open to help you out with whatever banking emergency you may have.

Banks closed on all saturdays

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The AIBA also mentioned, "It has emerged that the total working hours can be increased by 40 minutes per day with cash transactions from 10 am to 4 pm and non-cash transactions up to pm". Get IT refund status. Since , banks in India have been shut on the second and last fourth Saturday of every month as a public holiday. Watch Live TV. Letters Of Credit. About the Author. Check here. That is, banks could borrow for three days on Friday, within the prescribed limits, and any residual unused limit could be utilised for a 2-day period on working Saturdays. Login Now. HDFC Bank. Punjab National Bank Holiday List Download Black by ClearTax App to file returns from your mobile phone. Secion 80 Deductions.

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You are just one step away from creating your watchlist! So, are the bank open today? Clear Compliance Cloud. Compound Interest Calculator. ITR Filing. Are banks closed today due to five-day workweek change? March 9, Your Message. Yes, banks are closed on all Sundays of the month, even those that follow the 2nd and 4th Saturdays. Yes, Continue. Here is the list of Saturdays on which a bank has a holiday in for quick reference:. Whatsapp Twitter Facebook Linkedin.