Despite the digital revolution that has transformed the transactional paradigm in India, banks and their physical operations play a vital role in our system, even today.
Bank Holiday In Maharashtra
There has been a bit of confusion regarding the operationality of banks today, Wednesday, September 18. As a result of an announcement from the Reserve Bank of India (RBI), the bank holiday for Eid-e-Milad has been moved to September 18.
Therefore, banks will not be available for physical operations today. Banks, including the likes of the State Bank of India (SBI), in the major cities of Mumbai and Thane will not be working today.
Banks, including the likes of the State Bank of India (SBI), in the major cities of Mumbai and Thane will not be working today. |
Holiday Shifted to September 18
The Maharashtra government, after consultation and request from the local Muslim community in the state, decided to shift the official holiday on account Eid-E-Milad from the previous September 16 to September 18. The RBI responding to this governmental notification made a similar notification shifting the holiday.
This step was taken as it clashed with the last day of the Ganesh Chaturthi festivities, which concluded on September 17.
The next banking holiday post is expected to come to pass on September 28, which banks will be not operating in physical capacity on account of it being the fourth Saturday of the month.
Services like ATM, UPIsand other virtual means of transactions are not expected to be affected, unless banks inform their customers otherwise, for maintenance or security-related reasons. | Representative Image
What Can Consumers in Need Do?
Unless bank customers or account holders are specifically informed otherwise, all banks are open for business on weekends and other holidays and are accessible through their mobile banking apps and internet websites for cash emergencies.
One can also take out cash from any bank's ATMs. In case of emergencies, it is advisable to communicate with the bank. Services like ATM, UPIsand other virtual means of transactions are not expected to be affected, unless banks inform their customers otherwise, for maintenance or security-related reasons.
