Banks in India may now be closed on every second and fourth Saturday if the Bank Unions have their way.

In the recently called strike by the Bank Unions that has now been shelved Bank Unions agreed to a 15 per cent wage hike and holidays on every second and fourth Saturdays.

The remaining Saturday's would be working for the banks. The annual wage at 15 per cent will workout to Rs 4,725 crores on salary slip components for the government banks employees.

The new scales will be constructed after merging dearness alloweness.

The parties will meet to draw Bipartite Settlement/ Joint Note on the various issues on which consensus positions have been reached. Both parties agreed to finalize within a period of 90 days.

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