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Banks to remain open on 31 March: No 5-day long bank holiday coming
Posted on: 27-03-2018 , 09:10:AM | DY365 Bureau

 Picture Courtesy: Business Today

March 27, 2018: A lot of buzz has been on the round that that banks will remain closed for five consecutive days from 29th March to 2nd April, 2018. But in a recent development reports have emerged that banks won't remain shut for the said 5 consecutive days.


"Banks will work on March 31 (Saturday) and there are no continuous holidays as per messages on social media," IANS quoted D Thomas Franco Rajendra Dev, General Secretary of All India Bank Officers Confederation.
Dev stated that the banks would not work on March 29 on account of Mahaveer Jayanti followed by a holiday on Good Friday; however, Saturday (March 31, Saturday) would be a working day for the banks since it is the 5th Saturday of the month.
“Banks are only closed on 2nd and 4th Saturdays. On 2nd April, banks will remain closed for the annual closing of accounts,” he further added. 
On April 2, banks will observe an annual closing as the new fiscal would start.
Reportedly, most bank ATMs will work during these days as a majority of banks have outsourced the ATM management to third parties.
It may be mentioned that earlier reports and rumours on social media, also fuelled by WhatsApp forwards said that there would be a 5-day long holiday for banks that would impact day-to-day bank dealings. It also said that there would be a rush at ATMs before the extended weekend as well as currency crunch during those days as ATMs would not get refilled. The reports said that no other bank service would work either. 

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