Amid holidays and March closing, Banks to have limited functioning days this week

Bank transactions and functioning to impacted this week amid bank holidays and the March closing. The customers are likely to face challenges in transactions in the coming days. Week starting from March 27 to April 4, bank branches across segments will be functioning for two days. The only two days working would be 30th of March and 3rd of April, of which many bank branches function half day. 

Banks will be closed for three consecutive days on 27, 28, and 29 (Holi) March in the entire country. They will remain closed due to the fourth Saturday on March 27. Banks have a public holiday on Sunday, March 28. And, on March 29, there will be a holiday due to Holi.

After this, banks will remain open on March 30, except in Patna zone, as there is an extended Holiday amid Holi

On March 31, being the last day of the financial year 2020-2031, services will not be available in the bank branches. On 1 April, due to account closing, services will not be available in the branches

Besides Holi, this week as the month changes there's a Good Friday holiday on 2 April. April 3 will be a working day ( half day for most of the bank branches) and the next day due to Sunday it is again a holiday for the banks.

In the wake of Holidays and March closing, banking services can be availed at branches only on March 30 and April 3, between March 27 and April 4.
Moreover, the big private and public bank customers also face challenges in terms of receiving OTP (One Time Password) as TRAI (Telecom Regulatory Authority of India) has released a list of 40 ‘defaulters’ companies that are not meeting the regulatory norms for bulk commercial messages, as Press Trust of India reported.

The customers of banks such as HDFC Bank (HDFC Bank), State Bank of India (SBI), and ICICI Bank may have to face problem from coming next month.

These major units have been informed regarding the same many times by TRAI. These include HDFC Bank, State Bank of India and ICICI Bank.

TRAI has taken a tough stance on the issue, stating that the defaulting units will have to meet these rules by March 31, 2021. If not, their communication with customers may be interrupted from April 1, 2021.

“Major units/telemarketing companies have been given ample opportunity to meet regulatory requirements,” the regulator informed in a statement. “Consumers cannot be further denied regulatory benefits. In view of this, it has been decided that if a message from April 1 does not comply with the regulatory requirements, it will be stopped by the system.” the regulator further affirmed.