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RBI not for Saturday as holidays

The Reserve Bank of India is understood to have put in abeyance the proposal plan for banks to have holidays on alternate Saturdays. The central bank is said to have told the State Bank of India, which formally made the proposal mooted by the staff to have aleternate Saturdays as holidays that it would required more time to study the implications before taking a decision. The nationalized banks had made a reference about this to RBI as it was one of the points discussed and agreed upon at the negotiations for wage increase for the public sector bank staff as it involved a change in banking practices. The employee unions at the public sector banks have for long been demanding a five day week as part of their wage settlement. After the meeting with the IBA in February this year, the AIBEA general secretary C H Venkatachalam had said the long pending demand of the bank unions for holidays on second and fourth Saturdays have also been reached.

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