Tuesday, January 02, 2007

Holiday Bonanza

Holiday Bonanza (for Bankers)

No, I am not talking about the holiday gimmicks that retailers do this time of the year. I am talking about the holidays Bankers get this month.

Bankers in Tamil Nadu get a whopping 6 additional holidays (over and above their weekly holidays) in January alone. Net, they will be 'working' less than 20 days this month. This, I was told directly impacts the money flow between banks and the federal institutions resulting in severe monetary loss (running to several million rupees) on float for the Bankers and the business community.

While the Bank employees might appreciate the additional days off, the economy obviously can't. Is it not possible to de-link employee holidays from the transaction flow. After all, so many other essential services (like Railways, Bus, Medical, Utilities etc.,) run without shutting down.

1 comment:

  1. Holiday is defined as "A day or period of time when there is no work". You are right most of these nationalized bank non exempt employees work by the clock and even during regular working days there are always periods of time when they do not work. It is high time Government of India amend the Negotiable Instrument Act so bank will be outside the limits of holidays just like the essential industries such as electricity, transport, hospital, TV, Newspaper, etc. Money plays a vital role in the economy of the country and anything that restricts the circulation of money must be revisited and changed.