Anant Kumar, IT professional, spent hours at the Ashok Nagar branch of a public sector bank just for two banking transactions. Scores like Kumar were compelled to shun their routine work to complete banking transactions because of the fear that banks will remain closed for six days due to Gandhi Jayanti, Dussehra and Bakrid.
“I learnt from newspapers that banks are likely to remain close for six-days from October 1. Who wants to take chance anywayIJ I have to buy a car and so I need huge amount of cash to make down payment. With limitation of ATM transactions I will have to draw money through cheques to fulfill my requirement of money during festival. So naturally this is the top priority,” said Kumar.
Banking operations will be severely affected for next six-days due to holidays. The news appears to be bit exaggerated as bankers pooh-poohed the claims of inconvenience to a customer first because the operations will not be suspended for six-days and second most of the operations by a retail customer are done through ATMs. Notably, it is likely that it will be business as usual on Saturday.
“Not six-days but five days and a day of banking operations in between the holidays. Bank will remain open on Saturday as there is no notification issued for suspending banking operations on the day,” said a senior SBI official, Rajesh Tripathi.
The inconvenience theory was also declared unfounded because of availability of cash in ATMs which is replenished by a dedicated team even during holidays besides the flexibility of plastic-money (credit and debit cards) that is widely used for making purchasing, which is a normal phenomenon during festivals. Usually banks have their own arrangement for replenishing cash in ATMs which is at work even on holidays.
“Today we have loaded all ATMs with cash. We have made arrangements even for holidays so there is no issue with cash,” said DGM Central Bank, SR Das.
But there is no dearth of tech savvy people who are least deterred about suspended branch banking operations. Thanks to Internet banking and popularity of online shopping a large number of people are free of any apprehensions of not making any purchase during festival.
“You can see how fear multiplied. I don’t know who spread the rumor but its pity that people fall victim to such news. I am content with internet banking which I can use for purchasing anything through websites and for having fun during mela I can draw money through ATMs,” said Manoj Kushwaha, an employee of a private firm.