INSUBCONTINENT EXCLUSIVE:
Bank holiday: Banks will take steps to keep ATMs replenished, a banker said
Banks in many states will be closed today
May 1 marks the Labour Day holiday
May 1 is also a state holiday in Maharashtra for Maharashtra Day, or Maharashtra Diwas
With that, officials of some banks in the country have been enjoying a fourth consecutive day of holiday
Currently, banks across the country are closed on the second and fourth Saturday every month
April 28 was the fourth Saturday of the month
calendar of holidays, which varies from state to state
Tuesday for Maharashtra Day
about the four-day bank holiday (Labour Day on May 1) in some states:1
Banks will take steps to keep ATMs replenished, a banker said
But internet banking and mobile banking will remain operational, he added.2
However, not all banks in all the states were shut on Monday and Tuesday
Banking holidays are decided according to the Negotiable Instruments Act.3
On Labour Day, May 1, Dhanlaxmi Bank branches in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Goa, and West Bengal
Madhya Pradesh, Uttar Pradesh and Haryana were shut, according to Dhanlaxmi Bank.5
Earlier this month, severe cash crunch was reported in some parts of the country
ATMs in Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana went dry
The Reserve Bank of India (RBI) then asked banks with surplus cash to help other banks facing shortage of funds.
