MoLE declares services of Banking industry to be a public utility service

Apr 20, 2020 | by Avantis RegTech Legal Research Team

A |  A

Labour Compliance

The Ministry of Labour and Employment (MoLE) on April 17, 2020, has declared that the services engaged in the Banking industry to be a public utility service. The services engaged in the Banking industry are covered under item 2 of the First Schedule to the Industrial Disputes Act, 1947 which was previously declared as public utility service for a period of six months from October 21, 2019 by the Government.

Now, the Central Government is of the opinion that public interest requires the extension of the public utility service status for a further period of six months and therefore, it is declared that services engaged in the Banking industry to be a public utility service for a period of six months with effect from April 21, 2020.

[Notification No. S.O. 1265(E)]


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.