Bank Holidays: This week, all the branches of all major banks are going to remain open on both Saturday and Sunday. RBI has issued a notification for this…
Every Sunday is a bank holiday in India. Apart from this, banks also remain closed on two Saturdays of the month. However, this week is going to prove to be different. Banks are going to remain open on both Saturday and Sunday this week.
Recent notification of RBI
The Reserve Bank has issued a separate notification for this. In the notification issued by the Reserve Bank on March 20, 2024, it has been said that all the branches of all agency banks will remain open on Saturday, March 30 and Sunday, March 31. This means that the branches of the banks on which this notification of RBI is applicable are going to remain open on Saturday and Sunday also this week. Employees of the affected banks are not going to get leave this weekend.
There are holidays these days
Under the current system, every Sunday is a holiday in all banks in the country. Banks also remain closed on the second and fourth Saturdays of the month. The first, third and fifth Saturday of the month are working days for bank employees. Bank employees have been demanding a holiday on every Saturday for a long time, but at present this has not been implemented. Apart from weekend holidays, bank employees also get holidays according to festivals.
Due to this reason you will not get leave
The reason for opening of banks on this weekend is the end of the financial year. Actually the current financial year is ending on 31st March. After that, the new financial year 2024-25 will start from April 1, 2024. The last day of the current financial year is falling on Sunday. The Reserve Bank says that all government transactions taking place during the current financial year should be recorded in the accounts of this financial year. For this reason, despite it being Saturday and Sunday, agency banks have been asked to open all their branches on the last two days of the current financial year.
All major banks will remain open
Agency banks are those banks which settle government transactions. Agency banks include 33 banks including 12 government banks. They include all the major banks including SBI, PNB, Bank of Baroda, HDFC Bank, ICICI Bank. According to the notification of the Reserve Bank, those offices of the Central Bank which deal with government work will also remain open on Saturday and Sunday.
All these services will be available in banks
It has been said in the notification that banks will do normal business on both the days and will remain open as per normal timings. Normal electronic transactions will work on both days. This means that both National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) will be available till midnight of March 31. Check clearing services will also be available on both days.
