“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. Why cannt other sectors also can do same? Private sector? Hospital? In metro city like mumbai surat u have enough money to earn but what is quality of life ?”, reads the message currently viral on social media. According to the message, Reserve Bank of India has approved a five day work plan for banks and henceforth, they will remain closed every Saturday from 1st June.

This message is increasingly getting shared on Facebook and Twitter.

Hoax circulating since 2017

Alt News found that this is a hoax, which has been circulated on social media since at least April 2017. According to the last RBI notification regarding bank holidays (August 2015), all banks- scheduled and non-scheduled, including public, private, foreign, cooperative, regional rural and local area banks will observe public holidays on second and fourth Saturday of the month from September 1, 2015. It may be noted that the bank employees’ union and officers’ association have been demanding holidays on all Saturdays.

Furthermore, we found some recent tweets issued by prominent banks which clarify the issue of working vs non-working Saturdays.

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About the Author

Jignesh is a writer and researcher at Alt News. He has a knack for visual investigation with a major interest in fact-checking videos and images. He has completed his Masters in Journalism from Gujarat University.