Banks will be closed on 2nd and 4th Saturdays from 1st September 2015 of each month as per the Wage Negotiation Agreement
Ministry of Finance has announced that as per the Wage Negotiation between IBA Workmen Unions and Officers’ Association – 10th BPS – 2nd and 4th Saturday are declared as Holidays for Banks with effect from 01.09.2015.
Government of India
Ministry of Finance
Department of Financial Services
Jeevan Deep, IIIrd Floor,
Parliament Street. New Delhi
Dated the August 20. 2015
1. Dy. Governor,
Reserve Bank of India.
2. Chief Executive,
Indian Banks’ Association,
Subject: Wage Negotiation between IBA Workmen Unions and Officers’ Association – 10th BPS – 2nd and 4th Saturday as Holidays
I am directed to refer to IBA’s letter No. HR&IR/XBPS/3/975 dated 25th June, 2015 and RBI’s letterNo.DBR(Leg.)No.953/09.04.022/2015-16 dated 15.7.2015 on the subject cited above and to enclose herewith a copy of the Notification(in English and in Hindi) regarding declaring every second and fourth Saturday of every month as public holiday for banks in India with effect from 1st September, 2015.
2. RBI and IBA are requested to take necessary action accordingly.
3. This issues with the approval of Competent Authority.
Under Secretary to the Government of India
Encl. As above
To be published in the Gazette of India, Extra ordinary, Part II, Section 3, Sub-section (II)
MINISTRY OF FINANCE
(DEPARTMENT OF FINANCIAL SERVICES)
NEW DELHI, THE 20 AUGUST, 2015
S.O. – (E) In exercise of the powers conferred by section 25 of the Negotiable Instruments Act, 1881 (26 of 1881), the Central Government hereby declares the second and the fourth Saturday of every month as public holiday for banks In India, whether or not such banks are Included In the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), with effect from the 1st day September, 2015.
[F. No. 4/1/712015-IR]
Joint Secretary to the Government of India
Government of India Press,
Ring Road, Mayapuri,
New Delhi -1 10064.