New Delhi: From November 1, bank timings in Maharashtra will change as instead of functioning from 10 am to 5 pm, the banks will function from 9 am to 3 pm. However, the commercial activities in some of the banks will start at 11 am and will go on till 6 pm. Also Read - Beware! 1.3 Million Indian Payment Card Details Up For Sale
In August this year, it was decided that Public sector banks across the country will have standard operating hours as part of the government’s reform agenda for the PSBs. A panel recommended that every region can adopt one of three six-hour time slots — 9 am to 3 pm, 10 am to 4 pm, 11 am to 5 pm. All banks in one region will operate in the same timing, it was decided. The bank division of the finance ministry had held a meeting in June where the issue of timing was discussed. Also Read - RBI Imposes Rs 1 Crore Penalty on Bandhan Bank Limited For Not Meeting Guidelines
While the new timing was supposed to be effective from October, many regions are gradually embracing the new schedule. Maharashtra, Gujarat and Sikkim were three states which didn’t implement the new schedule in September. Now Maharashtra banks will operate from 9 am to 3 pm. In some areas, it may remain open till 4 pm. Also Read - RBI Imposes Penalties on Banks in Maharashtra For Violating Asset Classification Norms
Before the new schedule came to effect, the banks used to operate on their own schedule. Even two branches of the same bank in the same locality used to have different timings. Most of the states have accepted the timing of 10 to 4
Madhya Pradesh banks have, however, chosen the operation slot of 10.30 am to 4.30 pm. Mizoram banks will operate from 9 am to 3 pm. Except for Dimapur district, Nagaland banks have also chosen 9-3 slot. Dimapur banks will operate from 10 am to 4 pm.