“This is a welcome move. This will be a big relief to employees and I hope that this will improve the productivity of employees,” he said. In case of a month having five Saturdays, banks will be closed only on second and fourth Saturdays.
What this means is that the first Saturday holiday for banks will be on September 12, which is a second Saturday.
Second and fourth Saturday holiday for banks is as per the 10th bipartite wage settlement between the Indian Banks’ Association and banking sector trade unions.