IBA asks banks to reduce working hours: THESE 4 services will continue

With the increasing number of COVID-19 cases in India, the Indian Banks’ Association has issued an advisory that the working hours of bank officials will be cut down and the number of professionals working for banks should be reduced to 50%. 

According to a Mint report, the working hours of banks will be shortened and that will eventually affect the operations of the banks and more restrictions can be expected in the near future. 

Reportedly, IBA has asked banks to cut short the working hours from 10 am to 2 pm and reduce the staff attendance to 50% in these tough times. “We are going through the challenging period of resurgence of the mutant virus with several states reporting record high daily numbers of new infections and there are serious concerns about the economic activities," IBA said in a letter to State Level Banking Committee (SLBC) convenors on April 21.

However, it has been clarified that banks will continue with their services like accepting deposits, cash withdrawals, remittance, and government businesses. The SLBCs of each state and union territory will review the situation in their respective locations and decide whether to start additional services or not.

“Employees may be called on a rotational basis or be allowed to work from home as the case may be depending on the nature of the job, staff position and size of the establishment, ideally 50% of the employees may be called for “in-person" duty and on a rotation basis," it said.