The Press Information Bureau has refuted a viral notification claiming every Saturday is a bank holiday; only second and fourth Saturdays are holidays for public sector banks.
PIB Issues Alert on Fake Bank Holiday Notification
The Press Information Bureau (PIB) has issued a fact-check alert against a fraudulent Gazette notification circulating online that claims all Saturdays are declared bank holidays for public sector banks. The PIB confirmed this notification is fake and advised the public to rely only on official sources.
In reality, public sector banks in India observe holidays on the second and fourth Saturdays of each month, in addition to national and regional holidays. Weekly closures follow the Reserve Bank of India’s calendar for 'Holiday in Mumbai' and similar notifications.
Legal and compliance officers should caution institutions against acting on unverified government communications. The advisory underscores the need for vigilance in the face of misinformation, particularly affecting transaction timelines and contractual obligations tied to banking days.