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There is enough technology in the banking system to manage a five-day week, according to the State Bank of India chief. Citing the need for work-life balance, trade unions in the banking sector have been demanding five-day week for employees. To buttress their demand, the unions have pointed out that employees of the RBI and the Central Government enjoy five-day week.
“There is enough technology out there today to manage a five-day week.
“Also, there could be something like variable working, whereby certain branches can remain open for seven-days and yet employees could be allowed to take two days off. That is also possible. Of course, that increases the number of people that you need to have,” said Arundhati Bhattacharya, Chairman, SBI.
Pointing out that SBI Group has a pretty large network of ATMs (54,479), she said.
“Also, the cash deposit machines are now being put in, of course, not sufficiently in that number. But over a period of time they will also go up. So, the depositing and taking out of cash can both be addressed.” SBI has 1,81,310 point of sale (PoS) terminals and is also enabling cash deposit at PoS.
For those people who don’t transact in cash, mobile and Internet banking are available 24x7. When asked as to when five-day banking could be ushered in, the SBI chief said, “I have no looking glass with which to forecast this.”
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