September 30, No More Holiday For Bank Half-Yearly Closing

September 30 , No More Holiday For Bank Half-Yearly Closing.

All Banks shall observe normal working day on September 30, which used to be a bank holiday For Bank Half-Yearly Closing. A statement said all normal banking transactions shall be carried out by the Business Units (B/Us), Regional Collection Centres (RCCs) and other offices.

calender-sep30As per the government notification, 30th September shall be working day for banks under Negotiable Instruments Act. This has been done keeping in view the adoption and integration of technology for carrying out transactions and other processes in banks.

RBI/GOVERNMENT OF INDIA DECLARED 30TH SEPTEMBER, 2013 AS WORKING DAY FOR ALL BANKS: RBI, DBOD NOTIFICATION TO IBA

DBOD NO. Leg.2168/09.11.001(spl)/2013-14 OF 08.08.2013

SEPTEMBER 30TH AS A WORKING DAY FOR ALL BANKS UNDER
NEGOTIABLE INSTRUMENTS ACT.

1. As you are aware, Banks have been observing holiday on September 30th every year on account of half-yearly closing of accounts. A suggestion was received from a member of public, requesting RBI to look into the issue of doing away with the holiday observed by Banks on September 30th due to adoption of technology for processing in Banks. Accordingly, a proposal was made to Government of India in this regard.

2. Acceding to our proposal, Government of India wrote to all State Governments and Union TerrItories to do away with the holiday on September 30th for Banks. All State Governments and Union Territories have since issued Notification, making September 30th, 2013 as working day for Banks under Negotiable Instruments Act.

3. You may inform all the Banks to take note of this and act accordingly.

Yours faithfully,
sd/-
(Sadhana Varma)
General Manager

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