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At present, banks work for two Saturdays in a month. They are open on the first and third Saturdays and closed on the second and fourth Saturdays. They may soon have a five day week and work only from Monday to Friday.
The All India Bank Officers Confederation released a statement saying that discussions between the Indian Banks Association and the All India Bank Officers Confederation were successful and a Joint Note was signed to this effect.
The Joint Note recognises all Saturdays as holidays and is pending approval from the government. The revised working hours will also be effective after notification by the government. Some reports say that bank employees will work an additional 40 minutes per day from 9.45 am to 5.30 pm.
When the government approves of it, all Saturdays will be notified as holidays under Section 25 of the Negotiable Instruments Act.
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