In the last few days, Twitter was trending with the hashtag #5DaysBanking. The trend attracted many eyeballs in the country and made people ponder what’s happening on the Banking front. Bankers from different public sector banks belonging to the financial or non-financial service section have given their opinion on twitter. Most of them are rooting for a 5daysbanking module for the Indian Public bank’s sector.
The Employee from the Public sector Bank demands 5 Days Banking model of work amidst twitter. The trending hashtag on twitter has seen a surge since novel coronavirus cases started to rise in the country. Previously, Indian Banks’ Association rejected the proposal. A lot has gone down in the year, and the Bank employees are back at demanding the 5 days banking work module.
— BankersUnited@Official (@Bankers_United) September 26, 2020
Central Govt, State Govt, RBI, SEBI, DFS, CVC all working in #5Days Week.
Why not Banks with #5DaysBanking even when they have completed all your targets.#JanDhan #DigitalIndia #Mudra@ianuragthakur@nsitharamanoffc@narendramodi @DebasishPanda87 @DFS_India pic.twitter.com/qEthgrQpjU
— Newton Bank Kumar (@idesibanda) September 26, 2020
We want #5DaysBanking For⁉️
✔️Promoting Digital India Mission
✔️Promoting Digital Banking
✔️Promoting 24*7 Banking
✔️Promoting Financial Awareness
✔️Promoting Cost Saving Banking
✔️Promoting Personalized Banking
✔️Promoting Seamless Banking@narendramodi @ndtv @idesibanda
— DESI 🅱️ANKER (@idesibanker) September 26, 2020
#DigitalApnayen campaign has got huge success & will continue in future also,
So When U have an option of Digital Banking & @PMOIndia is also promoting that,
It's the need of an hour of#5DaysBanking in Banking Sector for making India truely #Digital.@nsitharaman@Anurag_Office https://t.co/rjjrlHrK5x pic.twitter.com/5UKbHXcRjC
— Ankush Gulab Ghate (@Ankyghate) September 26, 2020
What is 5daysbanking module?
In a month banks work 6 Days a week with a weekly off on Sundays. However, with effect from 1st September 2015, the Centre declared that the second and the fourth Saturdays of a month would be a holiday too. The decision was welcomed with open arms by the Bankers.
The declaration came at a cost, though. Once the rule was implemented, the bank employees were to work from 10 am-5 pm on the first and third Saturday. Before the declaration, the working hours on Saturday for the bank employee was 10 am-2 pm.
Now, after almost five years, the Bank employees are asking for a new reform. In 5daysbanking module, the days of work will be reduced to only five days a week, Monday, Tuesday, Wednesday, Thursday, and Friday. Saturday and Sunday will be completely off for the employees. There is no change in the rules and regulations for the public and national holidays.
The onset of this pandemic has fuelled the need for the 5daysbanking work module. With safety guidelines like “social distancing” and “fewer the better”, everyone is trying to stay away from the crowd. Although in a crowded country like India, that is next to impossible. This novel coronavirus’s infectious rate is very high, and it takes time to be detected too. Apart from hospitals and markets, banks host a high crowd daily also. There isn’t a proper execution of the guidelines by the local themselves in the rural and suburban areas. This has risen an alarm for safety to both the public and the employees.
The bankers mention that if 5daysbanking work is introduced, it can help break down the chain and also allow bank premises to be fumigated from time to time. The bankers were on duty even when the country was in lockdown, and now that the unlocking procedure has started to take place, they are still on responsibilities. They demand this reform for all the efforts they have given during this pandemic to keep the cash flow running in the country.
How important is this 5 Days Banking?
Nowadays, with advances in computerisation and facilities such as phone, ATMs, Netbanking and mobile banking, those requirements are adequately taken care of and it is perhaps no longer necessary for banks to remain open six days a week.
Keeping the current situation in mind, it is safe to say 5daysbanking module will help lessen the chances of contracting as well as spreading the virus around. The bankers have been working throughout the lockdown to provide the citizens’ services, especially in the rural and suburban areas. With increased digitization, Internet and mobile banking facilities, ATMs, and e-Lobbies and availability of 24 x 7 services for clients, it is now possible for India’s banking sector to follow a 5-day banking module.
Apart from the hefty pandemic situation, bankers deserve a balance in work and life. Mostly the bankers are posted away from their home, and the 5day banking module will help them spend more time on their family and life.
When asked about such demands, the president of All India State Bank Officers Federation, Deepak Sharma, said:
“Moreover, it will also be a positive step in the direction of Digital India in conformity with PM’s vision. The working conditions in the Bank have been strenuous. Lack of proper infrastructure and adequate staff leads to late working hours, resulting in poor health. This puts an additional strain on the officers, which results in serious work-leisure mismatches, lifestyle diseases and of late, the officers of the Banks are committing repeated acts of suicides.”