Banks to Remain Closed For 5 Days : All the Government and Private Banking Services will be remains shut for consecutive 5 days. This month 8th is holiday due to second Saturday, 9th is the Sunday, 10th is also a holiday due to ayudha pooja, 11th is holiday due to Vijaya Dasami, and 12th is also a holiday due to Muharram festivals.

All Banks to Remain Closed For 5 Days Due to Successive Holidays In Oct 2016

All Banks to Remain Closed For 5 Days

This will be a great inconvenience for the many of the clients who are used to deal with continuous money related transactions such as business people. Also the ATMs may run out of cash due to back to back holidays. So, the people are advised to draw sufficient amount in advanced to plan 5 days.

08-10-2016 Second Saturday
09-10-2016 Sunday
10-10-2016 ayudha pooja
11-10-2016 Vijaya Dasami (Dasara)
12-10-2016 Muharram
“Navratri, Dusshera and Diwali are the biggest festivals in India and lot of financial transactions take place in this period. During festive season if ATMs run out of cash and if banking operations are halted, then consumers would suffer,” said Aniruddh Gandhi, a businessman.

ATMs Will Function As Usual During Holidays

Whereas bank authorities have confirmed that ATMs and Online Transactions will not be having any problem during these days. Also the ATMs will be loaded with full of cash to avoid the customer inconveniences. So, people can make online transactions without any issue and also the money can be withdrawn from the corresponding bank ATMs during bank holidays.

“Banks are completely geared up so that the consumers do not face any trouble. As online payment has become one of the largest modes of payments these days, there won’t be too may hassles,” said Madhya Pradesh bank employee association chairman, M K Shukla. He said that the banks would fill ATMs with cash as even the authorities were aware of the banking needs of people during festive season.

Few National Banks Remain Shut on 31st October On Account of Diwali

While as per the information from the sources, 31st October, Monday may be declared as a holiday due to Diwali which is falling on 30th October, Sunday. The National Banks may declare holiday on 31st Oct. The official declaration is yet to be known.

During the bank holidays, customers may experience the trouble of delay in payment process. Also the holidays effect many of the issues such as demand draft issuance, cheque clearance, and operating bank lockers and also other related issues. So, clients need to plan the necessary transactions / withdrawals beforehand during the holidays.

“For women, operating a locker is one of the major tasks during festive season. The holidays delay withdrawal of your precious belongings,” said Reena Makhija, a homemaker.

One more thing to notice is that, due to the successive holidays Dussehra / Diwali bonus for bank employees also may get delayed.

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