Banks to remain closed for 4 days from Thursday due to holidays
22 March 2016
Banks across the country will remain closed for at least four days in a row beginning Thursday, making it difficult for customers to conduct transactions at bank branches for four days consecutively.
However, banks have assured customers that they would keep ATMs fully loaded so as to meet their cash requirements over the extended weekend.
Banks said they plan to load ATMs with more high-denomination notes as to ensure that ATMs remain operational during these days and people don't have any cash problem.
Thursday will be a holiday for celebrating the Holi festival, followed by Good Friday, fourth Saturday and Sunday.
Banks are closed on second and fourth Saturdays every month, this makes for four continuous off-days for bank employees.
IDBI Bank may remain closed for an extra day on Monday if the strike call given by a section of officers and employees of the bank on 28 March materialises.
"A section of employees of the Bank have served a Notice of Strike from March 28, 2016 to March 31, 2016. If the strike materializes, normal Banking Services may be affected. In order to minimize the inconvenience to customers, the Bank has decided to keep all its offices open on March 26, 2016 (Saturday)," IDBI Bank said in a release.
Bank employees belonging to the All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA) have given a strike call to protest against the government move to privatise IDBI Bank.
The government currently owns around 80-per cent stake in the bank.
Finance minister Arun Jaitley had, in the Union Budget 2016-17, proposed to bring down government's stake in IDBI Bank to below 50 per cent.