Tamilnad Mercantile Bank (TMB) has denotified second and fourth Saturdays of the month as working days for select branches from September 1.
This is being done with a view to building new business, expediting recovery of NPAs and improving customer service. Currently, second and fourth Saturdays are banking holidays as per a government order dated August 1, 2015.
The newly-declared working Saturdays are applicable only for the specially denoted ‘strategic branches’ (109 in number as on date), said an internal circular issued on Tuesday and seen by BusinessLine.
Select staff members, up to a maximum of one-third (depending on the size of the branch), and jewel appraisers, will work on these days. They will be given a compensatory leave within 15 days.
Branch heads will ensure that the compensatory leave thus earned is exhausted within these 15 days. They will maintain a separate register to capture the details of these staff and the compensatory leave taken.
Regional managers will personally handle the strategic branches and ensure the new system functions properly. They must also ensure that the extended working days are exclusively utilised for business development.
Apart from the strategic branches, other offices of the bank will not function on the second and fourth Saturdays, at least for now, the circular clarified.