New Delhi, October 7: If you are planning for some major transaction for next week then make sure you have withdrawn enough cash from the bank. For next five days, starting from tomorrow the banks across India will be closed from October 8 and October 12, thanks to the coinciding dates of the list of holidays. Due to this long closure, there are chances that some banking services might be affected and ATM may run out of cash within two days after cash infusion. However, the banks had issued a statement that the ATMs will be refilled at regular intervals during the five consecutive days leave period.Also Read - Angry at Not Being Allowed to Burst Crackers, MP Man Sets Neighbour's Car on Fire
If there are any pending works related to the bank like cheque services, cash deposits done, one must ensure that it is done by Friday evening. This year October there are seven bank holidays in a month, which may bring smiles on bankers. The banks will be remained closed on October 8, being second Saturday of the month, followed by October 9, Sunday, October 10, Navami which is ninth day of Dusshera. Then it is Dussehra on October 11 and Aashura, the 10th day of Muharram on October 12. During Navratri, Dusshera, and Diwali, which is the biggest festival in India a lot of financial transactions take place during this period. During this season if ATMs run out of cash and if banking operations are halted, then most of the consumers suffer a lot. Also Read – RBI issues operating guidelines for differentiated banks Also Read - Renault Kiger, Triber, Kwid: Automaker Delivers 3,000 Units During Dhanteras, Diwali Period
Bank authorities also assured that the consumers will not face any problems as ATMs would be full of cash and online payments can also be carried out. In Mumbai most of the bankers believe, as online payment has become one of the largest modes of payments these days, there won’t be too many hassles. Also Read - 6 Injured, Couple Critical as Half A Dozen Vehicles Pile-up on Eastern Peripheral Highway Due to Thick Smog
Also this year Diwali will be celebrated on Sunday (October 30) and there is no clarity whether the nationalised banks will declare a holiday on October 31. Most of the businessmen and consumers believe that these bank holidays falling at regular intervals would delay payment processes at many places. Cheque clearance, demand draft issuance, operation bank lockers and other get delayed due top these holidays.
During festival season most of the women in India operate their locker in large number. Due to these consecutive holidays, there will be a delay in the withdrawal of your precious belongings. Also, working professionals said that their Diwali bonuses might get delayed due to these consecutive bank holidays.