Ministry of Labour and Employment

14.12.2023

Labour and Industrial

Central Government declares the services engaged in the Banking industry to be a public utility service

MANU/LABR/0096/2023

Whereas the Central Government is satisfied that public interest so requires that the services engaged in the 'Banking', which is covered under item 2 of the First Schedule to the Industrial Disputes Act, 1947 (14 of 1947), to be a public utility service for the purposes of the said Act;

And whereas the Central Government had declared the said industry to be public utility service for the purposes of the said Act for a period of six months with effect from the 15th June, 2023 vide notification of the Government of India in the Ministry of Labour and Employment published in the gazette of India, part-II, section 3, sub-section (ii) vide number S.O. 2432 (E), dated the 5th June, 2023;

And whereas the Central Government is of the opinion that public interest requires the extension of the public utility service status to the said industry for a further period of six months;

Now, therefore, in exercise of the powers conferred by the proviso to sub-clause (vi) of clause (n) of section 2 of the Industrial Disputes Act, 1947 (14 of 1947), the Central Government hereby declares the services engaged in the Banking industry to be a public utility service for the purposes of the said Act for a period of six months with effect from the 15th December, 2023.

Tags : Declaration Banking industry Public utility

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