Now Reading: Banks closed Sunday and Independence Day this week, says RBI
-
01
Banks closed Sunday and Independence Day this week, says RBI
Banks across India are closed today, 9 August, being a Sunday. They will also remain shut on Saturday, 15 August, for Independence Day, a mandatory national holiday. In Manipur, banks are closed…
The Story in Brief
Banks across India are closed today, 9 August, being a Sunday. They will also remain shut on Saturday, 15 August, for Independence Day, a mandatory national holiday. In Manipur, banks are closed on 13 August for Patriot’s Day. The Reserve Bank of India’s holiday calendar lists these closures. Digital banking services, including internet banking, mobile apps, UPI and ATMs, operate 24/7. Customers needing in-branch services must wait until the next working day. Banks observe Sunday closure and also close on every second and fourth Saturday of the month.
The Indian Opinion
Complaints about frequent bank holidays often ignore that digital channels work round the clock. For a cash-dependent economy, the real pinch is felt by those without internet access. The RBI calendar is public and predictable. The question is not whether holidays are too many but whether last-mile banking infrastructure, ATMs in rural areas, trained staff, can fill the gap when branches shut. Watch how many rural branches actually keep their ATMs stocked during the coming holidays.
Source: livemint.com
This story was synthesised by AI from the source linked above.
