In view of three holidays this week, public sector banks have been directed to function full day on Saturday, April 7. The Finance Ministry has asked all public sector banks to to function full day this coming Saturday instead of working half-day, official sources said. Usually, banks are open for public dealings between 10 am and 1 pm on Saturdays.
Confirming the development, a senior official of Indian Bank said the Finance Ministry has issued a circular in this regard. Banks were closed for public dealing on Monday. They will remain closed on April 5 on account of Mahavir Jayanti and again on Good Friday day on April 6. In effect, banks are closed for public dealings for three days this week.
According to the official, lenders are taking adequate measures to ensure that cash withdrawals from ATMs are not hit during the holidays. However, transaction through bank branches cannot take place in these two days, the official added. There would not be much of activity on corporate side either as they are also likely to observe holidays, the official added.