Update : It may be reality soon. Click here to view latest news.
Bankers have been demanding 5 days week for a very long times, specially since the same has been introduced in central government offices and later on also adopted by RBI for its own offices.
However, till date, government has denied this demand on one plea or the other. One of the main reasons for denial of this demand is the argument that it will put unnecessary hardships to the general public who wants to withdraw money on Saturdays also.
It has been in news recently that IBA has recommended 5 days week to Finance Ministry but there is no confirmation available from any authenticated source till date.
As per our view, it is very unlikely that Govt. will allow banks to be open only five days in a week where the largest Public Sector Bank has earlier announced that it is exploring options to open 7 days a week.