RBI denies commercial banks will remain closed on every Saturday

The Reserve Bank of India (RBI) has clarified that it has not given any instructions regarding five-day week in commercial banks.

Yogesh Dayal, Chief General Manager, Reserve Bank of India, said on Saturday that all such reports are "not factually correct."

"It has been reported in certain sections of media that commercial banks would have a five-day week on the RBI instructions. This information is not factually correct. RBI has not issued any such direction," Dayal said.

Earlier rumours were reportedly spread over social media that all commercial banks will remain closed on every Saturday from June 1.