5-Day Work Week For Banks: Prime Minister Narendra Modi led Union Cabinet on January 16, 2025, approved the formation of the 8th central pay commission for central government employees and pensioners. Moreover, the central government employees now eying onto get a salary raise.

The government gave relief to over 1 crore central government employees and pensioners with this news, who will benefit from the formation of the new Pay Commission. Notably, the then UPA government constituted the 7th Pay Commission in February 2014. The commission submitted its report to the government in November 2015. Furthermore, the government then implemented the recommendations of the 7th Pay Commission from January 1, 2016, raising the salaries and pensions of central government employees and pensioners.

Another speculation that surrounds the country with its echos is 5-day workweek for banks in India. Currently, banks follow the 6-day work schedule, with the second and fourth Saturdays of the month as a holiday. The banking employees are demanding a 5-day workweek from a long time now. The Indian Banks’ Association (IBA) and bank unions gave their nod to a 5-day workweek in 2023 when they finalized plans in the 9th Joint Note in March 2024, which includes every Saturdays and Sundays off.

5-Day Work Week For Banks: Will Govt Take Next Big Move?

The central government has still not approved the proposal for the 5-Day work week for banks. There were indeed the rumors that bank employees might get a 5-day workweek by December 2024, but that didn’t happen. Now, the banking employees are waiting for the central government to officially give the nod to this change. However, the government has not yet finalized any deadline for this as of now.

However, after the government surprisingly announced the formation of the 8th Pay Commission, the banking employees are anxiously waiting for the another big announcement. As of now, all eyes are now on the government. When will the government give the green light to the long-awaited proposal of 5-day work week for banks, remains a question for now.

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