On Thursday, In response to the petition of bank unions Ministry of Finance issued orders and necessary notifications regarding the declaration of Second and fourth Saturdays are Full holidays for all Banks in India. In recent times, we have seen several messages in our mobiles and number of posts in social networking sites like Facebook stating that Second and Fourth Saturdays of month will be public holiday for all the banks and it will be implemented from 1st April 2015 itself.  But at last it  was found that it is a rumour.

FinMin notifies 2nd & 4th Saturday as public holiday for banks:

Now bringing cheers to the bank employee’s RBI has approved long waited pending petition to declare second and fourth Saturdays as holidays, i.e, all banks remain closed on second and fourth Saturdays of month. This will be implemented from September 1, 2015. According to the sources, Since long time bank unions have been asking RBI for five-day week but finally RBI has agreed to declare holidays on second and fourth Saturdays of month. Anyway this is not going to benefit anyone either customers or banks because remaining 3 Saturdays are working days.

“This is a welcome move. This will be a big relief to employees and I hope that this will improve the productivity of employees,” told All India Bank Employees’ Association (AIBEA) General Secretary C H Venkatachalam. At present, all PSU and private sector banks work half-day on Saturdays. In case a month has five Saturdays, banks will be closed only on second and fourth Saturdays.