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String of bank holidays from March 28 to affect consumers: Assocham

According to Assocham, while ATMs will technically remain operational, problems could arise

Public sector banks

A string of holidays lined up one after the other, coupled with banks’ annual closing of accounts for the financial year, could disrupt financial transactions in the stock markets, export and shipments, and salary payments, warned the Associated Chambers of Commerce & Industry of India (Assocham). It said the Reserve Bank of India and the Centre should make some alternative arrangements to avoid a crisis. “We would urge the Reserve Bank of India to step in and advise the banks to make some arrangements. With the government being the majority owners of the public sector banks, ...