A memorandum of understanding ( MOU ) was signed on 23.02.2015 between Indian Banks' Association (I.B.A.) and United Forum of Bank Unions' (U.F.B.U.) containing the above issue.
I.B.A. has taken up the matter and necessary instructions will be issued to all the banks as soon as I.B.A. will get clearance from Central Government/ Finance Ministry/ RBI, but till date there is no such instructions / circular on holiday on 2nd and 4th Saturday.
Members are requested not to propagate false messages/ circulars/ SMS on the above issue to create unnecessary confusion.
AIBEA Circular No.27/122/2015/18, dtd 02.04.2015 (along with this pdf file has been attached).
Dear Comrades,
Full holiday on 2nd and 4th Saturday of every month
Vide our Circular Letter no. 27/121/2015/17 dt. 19-3-2015 we had informed the developments in regard to the introduction of 2 full holidays on 2nd and 4th Saturday of every month as agreed by the IBA vide Minutes of Discussions signed on 23-2-2015.
The MoD has to be translated into regular Settlement under the I.D Act amending the existing provisions regarding working hours. Further change of holiday in Banks also needs official changes in the regulations by RBI and some amendment to the Negotiable Instruments Act. All these issues have been taken up by IBA with the concerned authorities in RBI and Government. Without completing and complying with these formalities, the holidays in Banks cannot be changed.
Further, our units should be aware that our Settlement would cover only 45 Banks whereas there are other Banks which are outside IBA and also not covered by our Settlement. Even amongst the 45 Banks, in the case of foreign Banks, only workmen are covered by their mandate to IBA and not officers. Hence there are technical issues to be dealt with before implementing the change of holidays. All such issues have to be sorted out before the new holiday system is introduced.
In the meantime, false and wrong messages, imaginary circulars in the name of SBI, instructions of Finance Ministry, etc. are in circulation. Consequently, we get numerous anxious telephone calls, sms, emails, etc. to clarify the matter. Units are hereby informed that any development in this regard will be communicated to the units and hence we should ignore all these false and mischievous messages, etc. aimed to create confusion amongst employees. Our units and members are requested to desist from forwarding such messages to others.