Banks To Function All Normal Next Week; No Need For Undue Panic: Finance Ministry

Dismissing rumours, the government today said bank branches would remain open next week and there was no need for panic. It has come to notice that a rumour is circulating in several sections of social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public, Finance Ministry said in a statement said.

"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, September 2, and second Saturday, September 8," it said.

Coming Monday, September 3 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 said. Even on those days, it said, 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 added.