Bank Holidays on 2nd and 4th Saturdays – Notification issued

Banks will be closed on 2nd and 4th Saturdays from 1st September 2015 as per the Wage Negotiation Agreemen 

Finance Ministry has instructed RBI and IBA to declare 2nd and 4th Saturday as Holidays for Banks with effect from 1.9.2015, in line with the Agreement signed between IBA and Bank Employees Unions. This is applicable to 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)

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.

F.No.4/1l7/2015-IR
Government of India
Ministry of Finance
Department of Financial Services

Jeevan Deep, IIIrd Floor,
Parliament Street. New Delhi
Dated the August 20. 2015

To
1. Dy. Governor,
Reserve Bank of India.
Central Office,
Mumbai.

2. Chief Executive,
Indian Banks’ Association,
Mumbai.

Subject: Wage Negotiation between IBA Workmen Unions and Officers’ Association – 10th BPS – 2nd and 4th Saturday as Holidays

Sir,

I am directed to refer to IBA’s letter No. HR&IR/XBPS/3/975 dated 25th June, 2015 and RBI’s letter No.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.

Yours faithfully.

(Manish Kumar)
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)

NOTIFICATION

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]

(Mohammad Mustafa)
Joint Secretary to the Government of India

To
The Manager,
Government of India Press,
Ring Road, Mayapuri,
New Delhi -1 10064.

Download the Finance Ministry Notification F.No.4/1/712015-IR dated 20.08.2015