Brace yourself for five-day long banks shutdown from September 1

If you have some banking transaction pending make sure you complete that in the next two days as banking transactions in the first five days of September are likely to take a hit due to strike and holidays. The September is starting on Saturday, although its the first Saturday of the month and is a full working day for the public sector banks, many private sector banks and some other banks remain closed on that day. September 2 is off day Sunday, which is followed by Janmashtmi holiday on the next day. This would be followed by a two-days mass casual leave strike called by Reserve Bank employees on September 4 and 5. This may severely hit banking transactions across the country. RBI employees strike may affect transactions related to cheque clearances, FD renewal, payments and settlements and forex transactions, real time gross settlement (RTGS) and national electronic funds transfer (NEFT) etc.Since its also the start of the month, salary withdrawals from branches are likely to get affected. It is also advisable that you withdraw cash before September 1st, as ATM may also go dry due to non-replenishment of currency.

from The Economic Times https://ift.tt/2NuMsdy