Banks to remain closed every Saturday from 1st June is fake news

17, April, 2019 09:08:02 PM

Viral Claim: Old fake news is viral again that, Bank will remain closed on every Saturday from 1st June | RBI has approved 5 days working for Banks. Timing 9:30 am to 5:30 pm

Facts Check: False

Viral News in Social Media Twitter/Facebook/WhatsApp/Other Examples:

Bank will remain closed on every Saturday from 1st June | RBI has approved 5 days working for Banks. Timing 9:30 am to 5:30 pm

@RBI @FinMinIndia @PMOIndia Bank will be remain closed on every Saturday from 1st June | RBI has approved 5 days working for Banks. Timing 9:30 am to 5:30 pm. Pls officially confirm the news whether they r mere rumors or authentic
— kartikay Goel (@kartikaygoyal) April 17, 2019

Facts Check News: This above news, which states that RBI has notified each Banks to be closed each Saturday is not real, it is old news and is viral since 2017..

As per RBI, All scheduled and non-scheduled banks – public, private, foreign, cooperative, regional rural and local area banks – will observe public holiday on second and fourth Saturdays from September 01, 2015; and will observe full working days on Saturdays other than second and fourth Saturdays (referred to as working Saturdays in the Press Release). Consequent to this, the Reserve Bank of India has announced the following changes in its functioning with effect from September 1, 2015:

RBI.ORG

RBI notification Bank holidays each Saturday from June 1st 2017
Below message has been circulating on social media with regards bank closures on each Saturday - Banks to remain closed on every Saturday order by RBI Assertion made by - Social media and internet. From 1st June 2017, all Banks will be remain closed on every Saturday.

As per official communication from the RBI – Each bank will be working full day on first and third Saturday. http://www.livemint.com/Industry/dnP76KnwOnONXnCV7XJiEK/RBI-says-banks-will-work-full-day-on-first-and-third-Saturda.html

As per the SBI tweet, please note that as per RBI guidelines, 2nd and 4th Saturdays of each month are Bank holidays.