Legal Question in Employment Law in India

16.01.2017

Dear Sir / Madam,

Demonitization effect was felt from 08.11.2016 till 27.12.2016. Working in any organisation, be it the private sector or the government public sector, does involve late sitting as and when the situation demands, and at times, working even on Sundays and public holidays, to complete all pending unfinished work within timelines set for the Management by the Board of Directors (BOD). Demonitization did create a slight ripple effect initially during the first month till 07.12.2016, but it ebbed off thereafter. The Board may have assigned the co-operative bank officers and staff the task to pursue loan recoveries on holidays, since the borrowers would be freely available for meeting and discussing loan outstanding recovery and settlement, A joint representation by Indian Banks Association (IBA) with AIBEA - All India Banking Employees Association, NOBW - National Organisation of Bank Workers and UFBU - United Forum of Bank Unions may be put forth to the Ministry of Finance, New Delhi and Reserve Bank of India seeking to be monetarily compensated for the extra hours and holidays worked by each employee during demonitization.

http://www.financialservices.gov.in/banking/banking_actrules.asp

Regards,