By Anusree Gupta
Kolkata, 25 June: IF you have a lot many financial transactions due for next month, you better schedule them wisely and do that from right now!
This is because, in July, out of the 31 days that are there in the calendar, the nationalised banks across India will remain closed for as many as 11 days. On some days, private banks too will remain shut.
This leaves just 20 days when the banks will function in the entire month of July. The 11 day bank closures are due to a combination of scheduled off, holidays, and strikes called by the employees of the nationalised banks.
Here’s is the one-by-one account for each of the days on which banks will remain closed.
On 03 July banks will remain closed because, it is Sunday! Next, on 06 July Wednesday, the banks will remain shut due to a holiday on account of Eid.
Now, count one, two, three, four on your fingers and you are on 09 July when the banks will remain closed again; this time because it’s the second Saturday of the month. Starting 01 September 2015, all nationalised banks remain closed every second and fourth Saturday of a month.
Wait, there is more! The very next day, 10 July, is Sunday, and there is no prize if you have already realised that it’s a universal holiday. The banks will thus reopen after two days of closure on 11 July.
But this relief will be short-lived for those who have their accounts with any of the associate banks of the State Bank of India. Employees of the State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Hyderabad, State Bank of Travancore, and State Bank of Patiala have called strike on 12 July Tuesday to protest the Union government’s plans to merge these banks with the State Bank of India.
The very next day, that is, on 13 July, the All India Bank Employees Association (AIBEA) and All India Bank Officers’ Association (AIBOA), has called for a pan-India bank strike on the same issue. This time, the strike will cover all nationalised banks in the country.
Then, 17, 24, and 31 July are Sundays and hence the banks will remain closed everywhere. In between, 23 July is fourth Saturday, hence a scheduled off day for the banks.
Lastly, 29 July Friday, the United Forum of Bank Unions has called a pan-India bank strike to protest the Centre’s “move to privatise public sector banks on the pretext of banking sector reforms.”
In specific terms, the strike has been called to oppose mergers of public sector banks, appointment of private individuals as executives to nationalised banks, and demanding punitive action against corporate loan defaulters.
Thus, to avoid the consequential harassment, you can schedule your payments and receipts for the 20 days when the banks will function, add money to your mobile wallets, (if you are using one), and withdraw sufficient amount of money from ATM well in advance because, not everywhere online banking or mobile wallets will meet your transaction needs.