New Delhi, Aug 31: The Ministry of Finance on Friday clarified that banks will remain open and banking activity will continue uninterruptedly in the first week of September, apart from on September 2 (Sunday) and September 8 (second Saturday). In an official release, the Ministry further said that September 3 would not be a pan India holiday, apart from those states where a holiday is declared under the Negotiable Instruments Act, 1881. The clarification from the Ministry came after media reports suggested that banks would not be operational for six days in the first week of September, and stirred a sense of panic among citizens. Bank Holiday on Janmashtami to be Followed by RBI Employees' Strike; Keep Cash Handy From September 1 to 5 as ATMs May be Affected.

"It has come to notice that a rumour is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public. It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September," the notice read.

The Finance Ministry further communicated that ATMs in all states will be fully functional and there will be no impact on online banking transactions. Moreover, all banks have been advised to ensure that sufficient cash is available for dispensation from ATMs, even on days when banks would be closed. List of Bank Holidays During March 2018 Year Ending: Calm Down as Banks Are Not Shut for 5 Consecutive Days!