By Dheeraj Tiwari
Copyright indiatimes
New Delhi: Public sector banks have backed the idea of holding general and state elections simultaneously and have conveyed their support to the government on the One Nation, One Election (ONOE) Bill.Lenders have suggested that this will minimise disruption of banking services, as they remain closed on election day, and also put less burden on their staff, which is often used by state governments for election-related duties, including polling, vote counting and law & order maintenance.”In August, the Lok Sabha Secretariat had asked for views from all state-run banks. We made our submission last month,” said a senior bank executive, adding that most PSBs are supportive of simultaneous elections for the Lok Sabha and state legislative assemblies.The Lok Sabha has extended the deadline for the presentation of the joint parliamentary committee report on the ONOE Bill to the first day of the last week of the winter session in 2025.Live EventsAnother bank executive said the only concern that needs to be addressed is that the elections are not held on days that lead to consecutive holidays of two days or more. “Although with electronic payments and UPI transactions it is not very challenging, it is advisable that branch banking and other services should not be disrupted for more than three days,” he said. The government has also set up a crisis management group (CMP) that swings into action if banking services are disrupted for three days or more. The key components of the CMP include replenishment of ATMs and branch services, besides ensuring no disruption to online services.An official from the bank union said there should be better compensation for bank employees drafted for election duty. “It could be either through performance pay or additional leaves, as employees are going beyond the call of their duty,” he said. Earlier this year, the Patna High Court upheld the constitutional validity of the state law that allows PSB employees to be engaged in elections for panchayati raj institutions in Bihar. Voting for Bihar’s 243 assembly seats will be held on November 6 and 11.Earlier, a high-level committee on simultaneous elections, headed by former president Ram Nath Kovind, had in its report said conducting simultaneous elections could significantly cut down the financial costs associated with multiple election cycles. This model reduces the expenditure related to the deployment of resources like manpower, equipment and security for each individual election. The economic benefits include a more efficient allocation of resources and better fiscal management, fostering a conducive environment for economic growth and investor confidence, it noted.Add as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onOne Nation One ElectionBanking ServicesElection DutyRam Nath KovindLok SabhaPatna High Courtupi(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless