The Finance Ministry, in exercise of powers conferred under the Negotiable Instruments Act, 1881, on Thursday issued a notification declaring the second and fourth Saturday of every month as public holiday for banks in India, with effect from September 1, 2015.
Accordingly, the first public Saturday holiday for banks will be on September 12, which is a second Saturday. Consequently, remaining Saturdays would be full working for the Banks as per the 10th bipartite wage settlement between the Indian Banks’ Association and UFBU which is a forum of banking sector trade unions.
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