If you are looking forward to a long eased weekend, make sure you have enough cash in your pocket because the banks are heading towards 4-day-long holidays from Saturday to Tuesday (28 April to May 1).
If you are a frequent bank visitor, you might want to know about the upcoming bank holidays which start from tomorrow and will last for four consecutive days. Most banks in most parts of the country will remain closed from Saturday to Tuesday so ensure to have enough cash and get you banking-related tasks checked. Don’t worry, it isn’t a bank strike – rather it happens to be a series of holidays – just for banks. On April 28, that is tomorrow, it is the fourth Saturday of month which is a regular off for banks. Then comes Sunday. Banks will remain closed on Monday, April 30 for Buddha Purnima and on May 1, Tuesday for Labours Day – summing up to four days.
Holidays on Saturday, Sunday and Monday are sure for sure, leave on Tuesday is under negotiable depending on the bank’s criteria. However, most but not all banks will remain closed for all three days and it is better to check with you bank. Also, during holidays, ATMs would be running as usual and steps have been taken to replenish the ATM cash on regular basis, as the management of ATMs has been outsourced to third parties and does not depend on the particular banks.
But it is still better to get some cash on hand, especially after several states all over India faced a little shortage of cash because of limited liquidity in the system and high withdrawals. Besides working ATMs, internet-banking and mobile banking will remain operational through the banking holidays. Oh and if your employer relies on physical crediting of salaries, it might be delayed because of banking holidays by a couple of days.