This comes after some banks raised concerns about state governments trying to impose certain rules on lenders with regard to their specific labor laws.
A government official said that banks have also been advised to raise concerns on the matter through the State Level Banking Committee or SLBC.
“Indian Banks’ Association had shared the concerns of some banks. We took up the matter with the state governments accordingly,” he said. Reserve Bank of India Guidelines.
each state has its own Shops and Establishments ActIt regulates the working conditions of people employed mostly in shop and commercial establishments, including payment of wages, working hours, leave, holidays and conditions of service.
IBA chief executive Sunil Mehta confirmed that the Lenders Association had brought the issue to the notice of the Government. “In some states where there were some issues, the government has assured full support,” he said.
Another bank official said most of the issues were faced by private sector lenders. “State officials used to try to enforce time and state laws on contract workers,” he said, adding that they would also insist through SLBCs to ensure that state governments follow the direction of the finance ministry. .
Under the new labor code, daily and weekly working hours have been limited to 12 hours and 48 hours. There are four labor codes: the Code on Wages, 2019; industrial relations code, 2020; code on social Security, 2020; and the Occupational Safety, Health and Working Conditions Code, 2020.