Finance Ministry: Social Media Rumour on Bank Holidays False | CORPORATE ETHOS

Finance Ministry: Social Media Rumour on Bank Holidays False

By: | August 31, 2018
An employee counts Indian rupee notes at a cash counter inside a bank in Agartala

Aug 31: The Finance Ministry has clarified that social media rumours about banking sector coming to a halt due to six days of holidays in the first week of September is false. It has caused undue panic among the general public.

The Ministry 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.