Slashing social media buzz to be misleading, Banks to remain open in the first week of September
New Delhi, August 31: Slashing the rumors on the social media buzz that claimed banks across India will be closed for six days during the week, Ministry of Finance announces that the banks will largely remain open in the first week of September and there will be no impact on the functioning of ATMs.
The WhatsApp message on bank holidays, which went viral, claimed that banks would remain closed from September 2 to 5 and then from September 8 to 9 for the weekend, a total of six days in the first week of September.
It said the week was starting with Janmashtami on Monday, September 3, and then the banks would go on strike for demands related to pension.
"The message going around in the social media that banks will be closed for six days in the first week of September due to holidays and bank strike is not correct," said National Organization of Bank Workers Vice President Ashwani Rana.
Clarifying its stance the Finance Ministry statement stated 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.
It, however, turns out that the call for a strike by employees of the Reserve Bank of India (RBI) on September 4-5 (Tuesday and Wednesday) has been misunderstood as a strike by all bank employees. "It's only the RBI employees who are going on mass casual leave on September 4-5 for demands related to Provident Fund and pension. This will not have much impact on the day-to-day operations of the other public and private sector banks," Rana said.
Though the banks in Delhi and Mumbai will remain open on Monday, September 3, the day of Janmashtami, banks in some states would be shut. September 8 is, however, the second Saturday and thus a holiday.
"Monday, September 3, is not a pan-India holiday for banks. Banks in some states will remain closed as per the Negotiable Instruments Act. This, however, will not impact the online banking transactions nor it will affect the operation of ATMs," said an HDFC Bank.
Of the 31 regional and sub-offices of the RBI across the country, 16 will remain closed on September 3 on the occasion of Janmashtami, as per its website.