Will banks be closed every Saturday? PIB fact-checks fake Gazette

The government on Thursday dismissed as fake a Gazette circulating on social media claiming that Centre has declared every Saturday a public holiday for all Public Sector Banks, including the State Bank of India (SBI)

The Gazette floating on social media falsely claims to have been issued by the Ministry of Finance (Department of Financial Services).

The document, which purportedly appears to be issued by the Ministry of Finance’s Department of Financial Services, is false.

The Press Information Bureau’s Fact Check unit has clarified that the Ministry of Finance has not issued any notification declaring every Saturday a public holiday for Public Sector Banks.

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Commenting on PIB's post, several users raised the demand of a 5-day working week for bank employees. One such user wrote, “…employees of public sector bank work more than labour from 10am to 9 pm night because of staff shortage and cross selling and other targets. What they are demanding is basic necessities to have rest for 2 days.”

Another wrote, “Fake hain usko real banao” (It's fake, but make it real).

Bank strike was deferred after IBA's assurance

The fact-check comes days after a proposed three-day nationwide bank strike scheduled from September 28 to 30 was postponed following an assurance from the Indian Banks’ Association (IBA) on the demands raised by bank unions.

The main dispute is the delay in implementing a five-day banking week, which bank unions say was agreed upon in the Settlement and Joint Note signed on March 8, 2024.

Also Read | Former banker accuses bank union of 'betrayal' as 3-day strike gets deferred: 'Who will return their Sunday?'

The UFBU is also seeking changes to, or the withdrawal of, the Performance Linked Incentive scheme through bilateral discussions. In addition, the unions are calling for the immediate resolution of pending service-related issues, pointing to rising workloads, staff shortages and increasing compliance requirements.

While the three-day strike was deferred, the unions had earlier threatened an indefinite nationwide strike starting October 26, if no resolution is reached.