A man stand next to an out-of-service Automated Teller Machine (ATM) in Allahabad on Wednesday
The Finance Ministry on Friday took notice of a rumour on social media about closure of banks for six days in the first week of September and clarified that the banks and banking activity will continue unimpeded in the week.
"It has come to notice that a rumour is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public," the Ministry said in a statement.
"It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September," it said.
The Ministry said banks will remain open during the week, observing holidays only on Sunday, September 2, and second Saturday, September 8.
Monday, September 3, is not a pan India holiday and banks only in some states where a holiday is declared under the Negotiable Instruments Act, 1881, will remain closed, it said.
"Even on those days, ATMs in all states will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for dispensation from ATMs. Banks will remain open on all other days," it added.
The rumour on social media, particularly a WhatsApp message that went viral on Thursday, even prompted some mainstream media to report accordingly. However, the IANS report on Thursday stated exactly what the Ministry said on Friday.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.