Holidays declared by States are excessive: Indian Banks’ Association
Indian Banks’ Association (IBA) feels that bank holidays declared under
the Negotiable Instruments Act, 1881, by various States are ‘excessive’ and
need to be rationalised.
the Negotiable Instruments Act, 1881, by various States are ‘excessive’ and
need to be rationalised.
A meeting of the managing committee of the IBA,
which represents management of member banks,
is learnt to have made known its view during discussions on ringing in a
five-day week in the banking sector.
which represents management of member banks,
is learnt to have made known its view during discussions on ringing in a
five-day week in the banking sector.
Consensus ready
It may be recalled that as part of the wage revision under the
10th bipartite settlement, a memorandum of understanding was signed
on February 23 between the IBA and workmen unions/officer associations.
A consensus was arrived at that every second and fourth Saturdays
of the month will be holidays and the other Saturdays will be
full working days for bank branches/offices.
It may be recalled that as part of the wage revision under the
10th bipartite settlement, a memorandum of understanding was signed
on February 23 between the IBA and workmen unions/officer associations.
A consensus was arrived at that every second and fourth Saturdays
of the month will be holidays and the other Saturdays will be
full working days for bank branches/offices.
The matter was discussed in the managing committee of the IBA
(represented by public sector banks, private sector banks, foreign banks and
cooperative banks) at its meeting on April 7.
(represented by public sector banks, private sector banks, foreign banks and
cooperative banks) at its meeting on April 7.
After detailed deliberations, the members agreed that there was a case for implementation of a five-day week in banks.
This would require that clearing houses, RTGS/NEFT and currency chests are also closed on second and fourth Saturdays.
The IBA has already taken up the matter with the Reserve Bank of India
seeking its consent to enable it to take up the matter with the Government and
the Finance Ministry for issuing necessary Gazette notification.
It was here that the IBA managing committee felt that holidays declared
under the Negotiable Instruments Act, 1881, by various State Governments
needed to be rationalised.
seeking its consent to enable it to take up the matter with the Government and
the Finance Ministry for issuing necessary Gazette notification.
It was here that the IBA managing committee felt that holidays declared
under the Negotiable Instruments Act, 1881, by various State Governments
needed to be rationalised.
The committee felt that the IBA may take up with the Centre the case for
rationalisation of bank holidays under the Act.
rationalisation of bank holidays under the Act.
The IBA’s line of thought was given expression in a letter to the sponsor banks of regional rural banks, seeking their view on having second and fourth Saturdays as holidays and other Saturdays as full working days.
Their input will help usher in uniformity across the industry and ‘enable us at the earliest to proceed further in the matter,’ the letter said.
It went on to add that “we have already taken up the matter regarding
rationalisation of bank holidays under the Negotiable Instruments Act
with the Finance Ministry.
rationalisation of bank holidays under the Negotiable Instruments Act
with the Finance Ministry.
“We have also requested the Reserve Bank to consider suspension of
clearing functions and RTGS/NEFT on second and fourth Saturdays and
have full-day clearing services on other Saturdays like any other weekday.”
clearing functions and RTGS/NEFT on second and fourth Saturdays and
have full-day clearing services on other Saturdays like any other weekday.”
(This article was published on April 28, 2015)
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I wish to remind our comrades that some 8 to 10 years back (I do not remember
correctly)
Govt./RBI has restricted Public holidays for Banks to 15 days uniformly through out
India.
After some years it is relaxed.
Now in Tamil Nadu , Public holidays are 24 days. It differs from State to State.
Whether History repeats?
Why they iba are talking on different tone after signing the deal ..then we should also insist upon them to make full saturday holida y in a month or half working day on the remaining two sat...and to have minimun staff strength of every branch depending upon the size as a mandatory requirement otherwise let the branch be stop to function!!!!where are our union leaders why are they silent why are they begging which is our rights as a labour
ReplyDeletecentral govt. declared holidays should be implemented in Banks all over India
ReplyDeleteThis demand is half hearted and creat many complication only five day week is correct solution and will make similarity with globlisation features.International financial activities presently has 5 days structure.Stock market also run 5 days.
ReplyDeleteGreat gift on may day. Where stands the rights of all workers
ReplyDeleteWhat to be done should be done.
ReplyDeleteIt is really very unfortunate that Wage Settlement Issue is always clubbed with many many issues. As such not only the Wage Settlement Issue but also the clubbed issues never got justfication and satisfaction of the members. This strange process must be stopped. A Special Pay Commission headed by a sitting Supreme Court Judge with time limitation of NINETY days would only bring clarity and betterment. Otherwise this sort of MOUs only come out. Just 2% of ACHIEVED 15% for PAY SCALES denote what ??. At the outset, UFBU leaders themselves NEVER EVER respected their presented DEMANDS. What did the AITUC, CITU, INTUC, BMS doing ???. Who will get us the JUSTICE ????.
ReplyDeleteWhy all such drama creat for bankers......?
ReplyDeleteThere should not be any connection with statewise declared holidays. Bankers r getting 2 half saturdays off by working 2/3 saturdays full day working. In fact they r contributing one half saturday every alternate month. State Govt employees who also getting 2nd/4th saturday off, they r having more holidays then bankers. Are bankers not human being/ not having family / not a part of society?
ReplyDeletemake the PL 70 days in a year if 2nd & 4th saturday is not holidays. and complusory 30 days Leave for all the officer to reduce the pressure on them
ReplyDeleteSab chutiyapa hai...
ReplyDeleteIBA ------> MONEY ------> UNION
ReplyDeleteUNION ------> ALWAA ------> Employees
All this while why IBA was quiet about this topic. Were they not aware about this. Number of holidays was not declared by part of wage settlement. Why they are targeting employees in the HR policies, instead of settling long unsettled issues. Why our union leaders are quiet on issues like this. Young generation bankers are not even allowed to open mouth when they speak out. If this is the stand of union which youngster will like to work for peanuts thrown by IBA. Jaago all bankers. Stand together for our rights. Atleast dont let leave what is in hand.
ReplyDeleteEven now, why ufbu is so lethargic. It surprises,that they are unable either to conclude or to announce action plan
ReplyDeleteIN INDIA NO ONE BOTHERS ABOUT THE ORGANISATION LET IBA ANALYSE THE RECORD OF NEWCOMERS LEAVING BANK AND GOING. NO OVERTIME FOR EXTRA SITTING, BULLSHIT MEDICAL ALLOWANCE IN TODAYS SCENARIO AND OVER ALL PRESSURE OF WORK GIVEN BY OUR PM. NO BENEFIT FOR NEW COMERS AS NPS CONTRIBUTION ALSO WILL NOT BE INCREASING. BANKERS MORALE IS GOING DOWN EVERY DAY NO DOUBT PRIVATE WILL TAKE OVER AND OUR COUNTRY PEOPLE HAVE TO PAY VERY HEAVY PRICE FOR THIS.
ReplyDelete