look news india
For the past few days, an alleged gazette notification issued in the name of the Government of India and the Ministry of Finance (Department of Financial Services) is becoming increasingly viral on various social media platforms like WhatsApp, Facebook and ‘X’ (formerly Twitter). In this official looking letter, citing Section 25 of the Negotiable Instruments Act, 1881, it is being claimed that the Central Government has declared every Saturday as a public holiday in all the public sector banks of the country including the State Bank of India (SBI) and this decision has come into effect with immediate effect.
As soon as this news spread, confusion arose among bank employees and common customers. While on one hand there was a wave of happiness among bank employees regarding the implementation of 5-day working week (5-day banking), on the other hand common citizens started worrying about their banking work and the possibility of branches remaining closed on Saturday. This letter created a huge stir on the internet amid the needs related to financial transactions, check clearance and cash deposits and withdrawals in this festive season.
When this viral claim reached the government’s official investigating agency ‘Press Information Bureau’ (PIB Fact Check), a prompt investigation was conducted into the matter. PIB Fact Check team, while sharing a copy of this notification on social media, completely rejected this entire claim and termed it ‘fake’.
PIB clarified in its official statement that no such gazette notification or order has been issued by the Finance Ministry or the Central Government in which every Saturday has been declared a holiday for all public sector banks. The investigating agency has warned common citizens and media organizations not to trust or forward such fabricated and edited documents without verification. If anyone finds any letter belonging to the Central Government or any Ministry suspicious, he can directly contact PIB Fact Check on its WhatsApp number (+91 8799711259) or official email to confirm its authenticity.
According to the current guidelines of the Reserve Bank of India (RBI), the holiday rules are clearly fixed in all government, private and rural banks across the country. Under the current arrangement:
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Second and Fourth Saturday: All banks in the country remain compulsorily closed on the second (2nd) and fourth (4th) Saturday of every month.
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1st, 3rd and 5th Saturday: On the first (1st), third (3rd) and if fifth Saturday of the month falls, then on that day banks remain fully open like normal working days and regular functioning takes place.
Therefore, until any official notification is made public by the Central Government or RBI, the existing system regarding Saturday holiday will remain in force.
Actually, this fake notification was spread at such a sensitive time when important talks are going on between bank unions and the government regarding 5-day banking. United Forum of Bank Unions (UFBU) and All India Bank Employees Association (AIBEA) have been demanding for a long time that by declaring all Saturdays as holiday, the system of working only five days a week should be implemented in banks.
Regarding this demand, the unions had also called for a three-day nationwide strike from 28 to 30 September. However, in high-level talks with the Indian Banks Association (IBA), it was agreed that a special committee would be constituted to explore options for a 5-day work week and find a solution keeping in mind the convenience of customers. After this assurance the unions postponed their strike. This rule cannot be implemented without the recommendations of the committee and formal approval by the government at the cabinet or official level.
Bank customers have been advised not to fall into any confusion and plan to visit the branches only as per the holiday calendar released by their local branch manager or on the official website of the bank. Even if the bank is closed on a Saturday, net banking, mobile banking, UPI and ATM services will continue to work 24×7 without any interruption. Trust only the official handles of RBI (rbi.org.in) or PIB to confirm any official announcement.