Want to know if today bank is open or not check our article .As per the wage settlement between IBA and bank employees’ unions, the second and fourth Saturday has been considered a holiday from 1st September 2015.
This was declared by the center and has been this way since then. Having alternate Saturdays has been a great relief and much of the talk of celebration for every bank employee.
With everything going digital and online, the bank holidays do seem that much of an issue as previously considered. Banks are a place of great responsibility and trust.
Bank employees are trusted with keeping the accounts and managing the finances of every individual in the nation, this is a very responsible job and hence can prove to be quite stressful at times.
To tackle the stress and rejuvenate one should take regular holidays. Hence central and RBI together decided to have second and fourth Saturdays as Bank holidays
holiday.
Bank Holidays Saturday
Which Day Would Be A Bank Holiday In The Month Of May?
This month the second and fourth Saturdays are on 14th and 28th May respectively. Hence all the private and government-operated banks would be closed on this day.
As per the rule if there happens to be the fifth Saturday in a month then it shall also be considered a working day. This month the first and third Saturdays fall on the 7th and 21st respectively and are functional as per their usual timing.
Although banks are closed on the second and fourth Saturday, you can reach out to customer support even on Saturdays and Sundays. With the implementation of online banking, managing finances has been an easy task and does not always require a visit to the bank.
One can manage a lot of their finances from their home and with a good internet connection.
Which Day Would Be A Bank Holiday In The Month Of June?
In June, we are having our second and fourth Saturdays on the 11th and 25th of June respectively. Banks will remain closed on both of these days but you can do your transaction and handle your finances through online banking and bank-specific applications.
In this digital era, every bank has its application to deal with their customer’s finances and their queries. Hence having these days closed would not affect the economy or financial transactions.
Although June also observes certain regional holidays such as 2nd June we are celebrating Maharana Pratap Jayanti, to honor this banks would be closed in states such as Haryana. Himachal Pradesh and Rajasthan.
Having bank holidays can give the required time to all the bank employees to rejuvenate and energize and deal with everyday finances with much more enthusiasm.
Conclusion
Holidays are important for everyone. It gives you time to be away from everyday responsibilities and enjoy different flavors of life. Hence having regular holidays is important.
Regular holidays also motivate the employees to work hard with more efficiency. Keeping all this in mind, the introduction of holidays on Saturday is a welcome relief for every bank employee.
Hope you liked our article about Bank holidays saturday and the article was helpful to you.
Frequently Asked Questions (FAQs)
1. Which two Saturdays are holidays for banks?
Ans. The second and fourth Saturday every month is considered to be a bank holiday.
2. Bank ATMs will be open on the second and fourth Saturdays when banks are closed?
Ans. Yes, the ATMs and all the online bank transactions are operational and functional even when the banks are closed on the second and fourth Saturday.
3. Saturday bank holidays applicable to every state and union territory in India?
Ans. Yes, as this was a rule passed by central and under Section 25 of the Negotiable Instruments Act, second and fourth Saturdays are considered holidays all across the nation which includes every state and union territory.
4. Which Saturdays are working for Banks?
Ans. First, third and fifth Saturdays are considered to be functional days for banks and bank employees if no major event is happening on those days.
5. Are banks working on the 5th Saturday?
Ans. Yes, as per the negotiation between IBA and the bank employees’ union, only the second and fourth Saturday every month is a holiday.
6. Does SBI work on the second Saturday?
Ans. No, no legally authorized bank is allowed to work on Saturday. Although online transactions and functions are permitted.