Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September ; Monday, 3rd September is not a pan India holiday

ATMs in all States will be fully functional; Banks advised to ensure availability of sufficient cash for dispensation from ATMs
Posted On: 31 AUG 2018 11:19AM by PIB Delhi
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. Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September. Monday, 3rd September is not a pan India holiday and banks only in some States where a holiday is declared under the Negotiable Instruments Act, 1881 will remain closed.

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.

PIB

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Customers won’t be able to conduct bank transactions at branches for 4 days in a row this week as all banks will be closed from Thursday, although the lenders assure that they will fully load ATMs for meeting people’s cash needs.

Thursday will be a holiday for celebrating the Holi festival, followed by Good Friday and the weekend.

Banks are closed on second and fourth Saturdays every month. Hence, 4 continuous offs for the bank employees.

Banks are trying to ensure that ATMs remain operational during these days so that people don’t have any cash problem, a senior public sector bank official said.

They are trying to put higher denomination notes in ATM machines to ensure meeting the cash demand, the official added.

IDBI Bank may be closed for an extra day if the strike call given by a section of officers and employees of the bank on March 28 (Monday) materialises.

The staffers, belonging to the All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA), have given the strike call to protest against the government move to privatise IDBI Bank.

The government owns around 80 per cent stake in the bank.

In Budget 2016-17, Finance Minister Arun Jaitley had said the government was open to bringing down its stake in IDBI Bank to below 50 per cent.

PTI

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