Finance Ministry Clarified about Bank Holidays on Social Networks
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
ATMs in all States will be fully functional; Banks advised to ensure availability of sufficient cash for dispensation from ATMs
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.
- Reserve Bank of India Press Release – RBI Offices and all designated branches of agency bank
- Need recalibration (Software & Hardware changes) in all ATMs
- OHD Notes Exchange Limit 4500, ATM Withdrawal Limit 2500 & Weekly Limit 24000
- Reduction of Other ATM Free Transactions from 5 to 3 Per Month
- ATM Withdrawal increased to Rs.10000 per day per card – RBI Notification issued on 16.1.2017