There is a strong rumor in social media about 5 days banking at all the Public sector banks (PSB) after their 11th Bipartite settlement i.e. 01st Nov 2017. These demands are being raised through social media and none of the bank unions has not demanded it through their charter of demand and submitted to IBA (Indian banker's Association) for negotiation.
5 days Banking was also a demand during 10th Bipartite settlement but settled on only two Saturdays in a month. These rumors doesn't have had any sense as government is not at all interested due to many reason.
Reason for demanding 5 Days Banking in Week
1. Due to lot of push for Digital banking, bank already has invested a lot in creating IT infrastructure.
2. Digitization are launched to decrease the footfalls.
3. Branch costing can be reduced.
4. Top management of few larger banks like SBI, BOI etc also supported the 5 days banking initiative.
Although if 5 days banking get implemented it will be helpful for bank to minimize the cost as lot of digital payment initiative are already available to customer for easy and hassle free banking transaction.
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11th Bipartite