Banks across the country will remain closed on second and fourth Saturdays of every month, as the government cleared a “long-pending” proposal made by the banking employees.
Currently, both the public and private sector banks remain open for half day on Saturdays.
Bank employees associations termed it as a welcome move as it will be a big relief to employees.
As per the circular issued by the Government of India on August 20, 2015 and supporting changes made by RBI, the 2nd and 4th Saturday of every month, w.e.f. September 1, 2015 have been declared as a public holiday for banks in India.
The 2nd and 4th Saturday of every month will be observed as public holiday for all offices and banks
Banks will be open on 1st, 3rd and 5th (if any) Saturday as per our regular Saturday timings
Many banks like ICICI Bank etc cut-off time for Cheque clearing, NEFT and RTGS on working Saturdays will be till 2 pm while IMPS service for funds transfer to other bank accounts will be available 24X7
Scheduled transactions like NEFT, RTGS, ECS on the 2nd and 4th Saturday of every month will be processed on the next working day
You can continue to avail a wide range of banking services 24 X 7 through iMobile, Net Banking, ATMs and Touch Banking branches.
With the new regulation come into force from next month, the first Saturday holiday for bank employees will fall on 12 September, which is the second Saturday of the month.
On other Saturdays they have to work from 10 am to 5 pm.