Finance Ministry clears rumors, banks not to be shut next week

Amid rumors of Banks across the country to be closed in first week of September, the Ministry of Finance ( MoF) on Friday evening issued a notice where it has been stated that Banks will remain open in first week of next month.

"It has come to notice that a rumor 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", stated in the MoF communiqué.

The Finance Ministry clarified that 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.

"It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September", stated in the MoF communique.

The MoF clarified that 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.

(Featured Image – Livemint)