Banks to remain open in Sept 1st week, ATMs to be fully functional: FinMin

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.