{"id":172770,"date":"2024-04-19T10:57:58","date_gmt":"2024-04-19T05:27:58","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=172770"},"modified":"2024-04-19T10:57:58","modified_gmt":"2024-04-19T05:27:58","slug":"5-day-work-week-for-indian-banks","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/","title":{"rendered":"5 Day Work Week for Indian Banks, Check Out All the Details"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#5_Day_Work_Week_for_Indian_Banks\" >5 Day Work Week for Indian Banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#5_Day_Banking\" >5 Day Banking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#Bank_Timings_in_India\" >Bank Timings in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#Present_Bank_Timings_in_India\" >Present Bank Timings in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#New_Timings_for_Banks_in_India\" >New Timings for Banks in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#5_Day_Work_Weeks_Impact_on_Customers\" >5 Day Work Week&#8217;s Impact on Customers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#Will_there_be_a_salary_hike_after_the_implementation_of_5_5-Day_Work_Week\" >Will there be a salary hike after the implementation of 5 5-Day Work Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.oliveboard.in\/blog\/5-day-work-week-for-indian-banks\/#FAQs_%E2%80%93_Bank_5_Day_Work_Week\" >FAQs &#8211; Bank 5 Day Work Week<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/www.oliveboard.in\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/www.oliveboard.in\/blog\/category\/bank-exams\/\">Bank Exams<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>5 Day Work Week<\/strong><\/span><\/span><\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Day_Work_Week_for_Indian_Banks\"><\/span>5 Day Work Week for Indian Banks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In December 2023, the Indian Bank Association (IBA) formally proposed to the Department of Financial Supervision, Ministry of Finance, to approve and declare all Saturdays as public holidays, thus implementing a five-day banking system. This proposal comes in response to rising stress levels, evolving working conditions, increased automation, and the availability of banking services 24&#215;7. <\/p>\n\n\n\n<p>Let&#8217;s delve into the details of this proposed shift to five-day banking in India.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-preparation\/?ref=jaiib-contvk&amp;utm_medium=Organic&amp;utm_source=blog&amp;utm_campaign=jaiib-contvk\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt Free JAIIB Mock Test Here<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Day_Banking\"><\/span>5 Day Banking<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Five-day banking entails banks operating for business purposes five days a week, typically from Monday to Friday. The Indian Bank Association (IBA), representing various categories of banks in India, including public, private, foreign, cooperative, and regional rural banks, has put forward this proposal. The aim is to address a persistent request from public banks to harmonize India&#8217;s banking industry with international norms regarding work-life balance.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-preparation\/?ref=jaiib-contvk&amp;utm_medium=Organic&amp;utm_source=blog&amp;utm_campaign=jaiib-contvk\" target=\"_blank\" rel=\"noreferrer noopener\">Check the JAIIB Syllabus Here<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bank_Timings_in_India\"><\/span>Bank Timings in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Previously, banks in India followed a six-day workweek tradition. However, a reform introduced in 2015 through the 10th Bipartite Settlement, signed with the RBI for all banks in India, enabled banks to grant two additional holidays on two Saturdays in a month.<\/p>\n\n\n\n<p>Presently, both public and private banks in India observe mandatory public holidays on the second and fourth Saturdays of every month, while working on the first, third, and fifth Saturdays.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-preparation\/?ref=jaiib-contvk&amp;utm_medium=Organic&amp;utm_source=blog&amp;utm_campaign=jaiib-contvk\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Watch Free JAIIB Video Lectures Here<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Present_Bank_Timings_in_India\"><\/span>Present Bank Timings in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Banking operations in India could soon undergo a significant change in their schedule. Presently, banks open on the first and third Saturdays but remain closed on the second and fourth Saturdays. However, there are plans to transition to a Monday-to-Friday schedule, resulting in banks being closed every Saturday and Sunday.<\/p>\n\n\n\n<p>The Indian Banks Association (IBA) and the All India Bank Officers&#8217; Confederation have reached an agreement to adopt a five-day work week, with Saturdays and Sundays off. This decision was formalized with the signing of the 9th Joint Note on March 8, 2024.<\/p>\n\n\n\n<p>According to the press release, the Joint Note recognizes all Saturdays as holidays, contingent upon government notification. The revised working hours will be implemented upon receipt of the government&#8217;s notification.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-preparation\/?ref=jaiib-contvk&amp;utm_medium=Organic&amp;utm_source=blog&amp;utm_campaign=jaiib-contvk\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt Free JAIIB Mock Test Here<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"New_Timings_for_Banks_in_India\"><\/span>New Timings for Banks in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The successful implementation of the new workweek hinges on government approval. Once sanctioned, Saturdays will be formally designated as holidays under Section 25 of the Negotiable Instruments Act.<\/p>\n\n\n\n<p>Section 25 of the Negotiable Instruments Act empowers the government to declare every Saturday as a holiday. Given its ownership of public sector banks, the government holds authority in this regard. Additionally, the RBI&#8217;s consent is crucial as it regulates the timing of various interbank activities.<\/p>\n\n\n\n<p><strong>Under the new arrangement, reports suggest that bank employees may need to extend their workday by 40 minutes, from 9:45 AM to 5:30 PM.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-preparation\/?ref=jaiib-contvk&amp;utm_medium=Organic&amp;utm_source=blog&amp;utm_campaign=jaiib-contvk\" target=\"_blank\" rel=\"noreferrer noopener\">Free JAIIB Exam Guide<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Day_Work_Weeks_Impact_on_Customers\"><\/span>5 Day Work Week&#8217;s Impact on Customers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The proposed shift may impact regular bank customers accustomed to conducting their banking activities on Saturdays. However, with the multitude of alternatives offered by banks such as mobile banking, ATMs, and Internet banking, many customers have increasingly relied on these digital channels as their primary method of accessing banking services.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-preparation\/?ref=jaiib-contvk&amp;utm_medium=Organic&amp;utm_source=blog&amp;utm_campaign=jaiib-contvk\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB Important Topics<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Will_there_be_a_salary_hike_after_the_implementation_of_5_5-Day_Work_Week\"><\/span>Will there be a salary hike after the implementation of 5 5-Day Work Week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the press release from the All India Bank Officers&#8217; Confederation, the total increase in wage revision amounts to over Rs 8284 crores, constituting 17% of the establishment expenses of Public Sector Banks. After factoring in the applicable load of 3.22%, the effective load on basic pay post-merger of dearness allowance at 30.38% is 4.20%. The new pay scales range from Rs 48480\/- to Rs 173860\/-, encompassing all scales from Scale I to VII, and will be effective from November 1, 2022.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/blog\/daily-current-affairs\/\" target=\"_blank\" rel=\"noreferrer noopener\">Click Here to Read Daily Current Affairs 2024<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/oicl-ao-result\/\" aria-label=\"OICL AO Mains Result 2026 Out, Check Phase 2 Merit List\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2026\/01\/OICL-AO-Result.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"OICL AO Result\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/oicl-ao-result\/\">OICL AO Mains Result 2026 Out, Check Phase 2 Merit List<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/error-spotting\/\" aria-label=\"Error Spotting in English Types, Short Tricks, and Tips\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/08\/error-spotting-questions.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/error-spotting\/\">Error Spotting in English Types, Short Tricks, and Tips<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-apprentice-salary\/\" aria-label=\"Union Bank Apprentice Salary 2026, Stipend and Job Profile Details\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2026\/04\/Union-Bank-Apprentice-Salary.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Union Bank Apprentice Salary 2026\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-apprentice-salary\/\">Union Bank Apprentice Salary 2026, Stipend and Job Profile Details<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-of-india-apprentice-syllabus\/\" aria-label=\"Union Bank Apprentice Syllabus 2026 &amp; Exam Pattern\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2024\/09\/Union-Bank-Apprentice-Syllabus.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-of-india-apprentice-syllabus\/\">Union Bank Apprentice Syllabus 2026 &amp; Exam Pattern<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-of-india-apprentice-recruitment\/\" aria-label=\"Union Bank Apprentice Recruitment 2026, Apply 1865 Posts\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/02\/Union-Bank-Apprentice-Recruitment.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-of-india-apprentice-recruitment\/\">Union Bank Apprentice Recruitment 2026, Apply 1865 Posts<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/bank-merger-list\/\" aria-label=\"Bank Mergers List in India, 1993 to 2026, Latest Updates\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/11\/Bank-Mergers-List-in-India.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Bank Mergers\" style=\"\" srcset=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/11\/Bank-Mergers-List-in-India.webp 730w, https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/11\/Bank-Mergers-List-in-India-150x99.webp 150w\" sizes=\"auto, (max-width: 128px) 100vw, 128px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/bank-merger-list\/\">Bank Mergers List in India, 1993 to 2026, Latest Updates<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/nicl-assistant-vs-ibps-po-mains\/\" aria-label=\"NICL Assistant Mains vs IBPS PO Mains 2026: Detailed Comparison\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2024\/11\/IBPS-PO-Scorecard-2024-Out-3.png\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"NICL Assistant vs IBPS PO Mains, Which Exam Should You Choose?\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/nicl-assistant-vs-ibps-po-mains\/\">NICL Assistant Mains vs IBPS PO Mains 2026: Detailed Comparison<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/banking-terms-for-ibps-po-interview\/\" aria-label=\"IBPS PO Interview 2026: Download Important Banking Terms PDF\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2024\/12\/Banking-13.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Important Banking Terms for IBPS PO Interview\" style=\"\" srcset=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2024\/12\/Banking-13.webp 730w, https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2024\/12\/Banking-13-150x99.webp 150w\" sizes=\"auto, (max-width: 128px) 100vw, 128px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/banking-terms-for-ibps-po-interview\/\">IBPS PO Interview 2026: Download Important Banking Terms PDF<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image\"><a href=\"https:\/\/www.oliveboard.in\/blog\/important-simplification-questions\/\" aria-label=\"Simplification Questions for Bank PO Exams, FREE PDF &amp; Live Quiz\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2023\/08\/Simplification-Questions-for-Bank-PO-Exams.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Simplification Questions for PO Exams\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/important-simplification-questions\/\">Simplification Questions for Bank PO Exams, FREE PDF &amp; Live Quiz<\/a><\/li>\n<\/ul>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_%E2%80%93_Bank_5_Day_Work_Week\"><\/span>FAQs &#8211; Bank 5 Day Work Week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1712914319862\"><strong class=\"schema-faq-question\">Q1 &#8211; What is 5-day banking?<\/strong> <p class=\"schema-faq-answer\">Five-day banking refers to banks operating for business only from Monday to Friday, with Saturdays and Sundays off.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712914519238\"><strong class=\"schema-faq-question\">Q2 &#8211; What will be the new timings after the 5-day workweek implementation?<\/strong> <p class=\"schema-faq-answer\">After implementing the five-day work week, banks will be open from 9:45 AM to 5:30 PM from Monday to Friday.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712914541737\"><strong class=\"schema-faq-question\">Q3 &#8211; Is there a salary hike after the 5-day work week implementation?<\/strong> <p class=\"schema-faq-answer\">Yes, there is a salary hike. The total increase amounts to over Rs 8284 crores, constituting 17% of establishment expenses of Public Sector Banks.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1712914555072\"><strong class=\"schema-faq-question\">Q4 &#8211; What is IBA?<\/strong> <p class=\"schema-faq-answer\">IBA stands for the Indian Banks&#8217; Association, representing various categories of banks in India, including public, private, foreign, cooperative banks, regional rural banks, and Indian financial institutions.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>5 Day Work Week for Indian Banks In December 2023, the Indian Bank Association (IBA) formally proposed to the Department<\/p>\n","protected":false},"author":54,"featured_media":172773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[751,600,325,77,10729],"class_list":["post-172770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank-exams","tag-bank","tag-bank-exams","tag-banking","tag-current-affairs","tag-jaiib","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Day Work Week for Indian Banks, Check Out All the Details<\/title>\n<meta name=\"description\" content=\"IBA approved the 5 day work week for banks in December 2023. 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