Banks will remain closed on all second and fourth Saturdays
All bank branches in the country will remained closed on all second and fourth Saturdays from July following a pact between public sector bank (PSB) employees and officers with the management. Reserve Bank of India had approved the proposal and a notification would be issued on the change, under the Negotiable Instruments Act.
It will take three to four weeks for the process to get complete. PSB branches will work fulltime on the first and third Saturday of each month.
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