Banks to remain closed for 4 straight days; ATMs likely to run out of cash

March 14: The banking sector will have a long vacation, thanks to the co-inciding dates of the list of holidays. Starting March 24 banks will be closed for business for four days in a row in many parts of the country.

The dates being –March 24 for Holi, March 25 for Good Friday, March 26 for  fourth Saturday (second and fourth Saturdays of a month are holidays for government-owned banks) and March 27 being Sunday.

-March 24 (Thursday) – Holi

-March 25 (Friday) – Good Friday

-March 26 ( Saturday) – (Second and fourth Saturdays of a month are holidays)

-March 27 (Sunday)

Owing to this long closure, banking services will affect business transactions. While the banking activities will come to a halt, ATM holders will have to suffer the most since ATMs are expected to run out of cash.

Though almost all the banks have privatised cash loading in ATMs and so they have to plan stocking of cash carefully, owing to the long holidays, there could be problems of cash starvation.

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