Kumari Palany & Co

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SBI explains regarding bank functioning & successive holidays!

Posted on: 28/Mar/2015 3:00:07 PM
With the recent reports in the newspapers about the banks functioning for 6 days in a week, State Bank of India, the largest nationalized bank in India, has come forward with an explanation.

Banks will function as usual on 30th March (Monday) and 31st March (Tuesday).

Banks will be closed on 1st April (Accounts closing), 2nd April (Mahavir Jayanthi), and 3rd April (Good Friday).

Transactions will be resumed on Saturday, 4th April.

As the treasury remains closed on Saturday, the banks will not be held responsible if the salary of the government employees is paid belatedly on 6th April.

Reserve Bank of India has ordered the banks that they must ensure the government departments transactions should be smooth and take necessary precautionary steps.

RBI has also made a press release that banks will function for extended working hours till 8.00 PM on 30th & 31st March as these are the last dates for payment of income tax.

RBI has also informed that e-banking services, on-the-spot cash exchange/payment services will function full time on 30th & 31st March.

With this clarification from RBI & SBI, it is expected that banking services will not be disturbed to cause any inconvenience to the public during the coming successive holidays.