Govt allays fears of holidays disrupting banking operations
01 September 2018
Banks will remain open and banking activity will continue unimpeded in the first week of September, the finance ministry stated on Friday, amidst reports and social media tweets of banks remaining closed for most of the first week of September.
It has come to notice that a rumour is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public.
It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September, the ministry release stated.
Banks will only observe holidays on Sunday, 2 September and second Saturday, 8 September, the release said, pointing out that Monday, 3 September is not a national holiday and banks only in some states where a holiday is declared under the Negotiable Instruments Act, 1881 will remain closed, it said
Also, the release stated, even on those days, ATMs in all states will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for dispensation from ATMs. Banks will remain open on all other days, it added.