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However, the Press Information Bureau (PIB) has factchecked this claim stating it as fake news. According to the PIB Factcheck, “A news report by Lokmat Times claims that starting from April, banks across the country would operate 5 days a week, following a new regulation issued by RBI. PIBFactCheck: This claim is Fake. For official information related with Reserve Bank of India, visit : https://rbi.org.in.”
What does the media report claim about bank branches?
According to Lokmat Times, a regulatory decision by the RBI will restrict banking operations to only five days a week, implying that banks will not operate on Saturdays anymore. The report suggests that from April 2025, banks will follow the same schedule as government offices, where Saturdays and Sundays are designated as holidays.
Has the RBI issued any official notification?
The Reserve Bank of India has not yet formally announced that banks will be switching to a five-day workweek. Working on the first, third, and fifth Saturdays of the month is still part of the current banking work pattern.
However, there have been continuous discussion between RBI and Indian Banking Association (IBA) for a while regarding a 5-day workweek for banks. Banking unions have been arguing for a reduced workweek since it will better balance employees’ professional and personal lives and be in line with global banking norms.
What are current guidelines for banks to remain open?
Apart from national and regional holidays, bank branches are closed on the second and fourth Saturdays of every month. Bank branches remain open on the first, third, and fifth Saturdays of the month. Sundays are non-working days for all banks.
Is a 5-Day workweek for banks possible in the future?
Although the RBI has not confirmed any changes, a 5-day workweek proposal has been under discussion between banking unions and authorities.
