A post is circulating on social media claiming that the Reserve Bank of India (RBI) has implemented a new regulation mandating that banks in India will not operate on Saturdays and Sundays.
What we found: At first, we ran a relevant keyword to find out whether the RBI had released a circular stating that banks would be closed on every Saturday and Sunday of each month.
The keyword search led us to a press note from August 2015 about weekly bank holidays.
As per a press release from the RBI in August 2015, all scheduled and non-scheduled banks, comprising public, private, foreign, cooperative, regional rural, and local area bank, would remain shut on every Sunday and on the second and fourth Saturdays of each month, starting from 1 September 2015.
Every other Saturday is a complete working day.
We, also, checked the social media handles of the RBI which also did not have any information about the alleged claim about new weekly bank holidays.
As per Team WebQoof's sources in the RBI, the claim is fake and no such notice has been released by the apex court.
Conclusion: The viral claim about banks being closed on every Saturday and Sunday is false as the RBI has not released any such guidelines.
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