Fact Check: No, Banks Are Not Going To Have Extended 7-Day Holiday

There is a buzz that banks across India will remain closed from September 26 to October 2 i.e. for seven days. The strike called by four nationalised bank unions on September 26 and 27 to protest against Centre’s decision of merging 10 public sector banks into four entities. People are claiming that this strike will lead to lead to seven days of bank holidays. A few social media users are requesting people to keep more than sufficient cash as ATMs will run dry during these days.

One of the users claimed, “There will be bank strike on September 26 and September 27 to protest Centre’s move and demand wage revision. Then 28 and 29 September will be by default off as it fourth Saturday and Sunday respectively. Then September 30 will be half-yearly accounts closing. Most bank staff will be on leave on October 1 and then there will a national holiday on October 2 as it is Gandhi Jayanti.” The user claimed that this will lead to seven days of bank holidays.

But the fact is there is no seven days holiday for bank employees.

While the two-day bank strike by the unions has been called off, there is no holiday on September 30. Also, September 30 is not listed as a holiday on RBI’s official website. This means banking transactions will take place as usual on this day. Moreover, banks will work on October 1.

Hence, it is clear that banks are not going to have an extended holiday of seven days and it’s better to avoid rumours being spread by some social media posts.