If you have any urgent work to complete this weekend, make sure that you have sufficient money in your hand as the banks may remain close for the 4 consecutive days from April 28 and May 1. Ensure that your banking transactions are completed by Friday and you have enough money in your pocket to avoid ATMs rush.
On April 28, the banks will be closed being the fourth Saturday while the following day is Sunday. April 30 is a bank holiday as well as holiday for many financial institutions due to Buddha Purnima while it is followed by the International Labour Day celebrated on May 1 when bank will be shut. But services like Internet Banking and Mobile Banking will remain operational on the following days.
Make your withdrawal as soon as possible as the ATMs would not be replenished as the consequences of cash crunch and the extended weekend.
The coming situation is similar to the cash crunch faced recently from March 29 to April 2 when it was speculated that the banks would not operate for the five days. But it was resolved within a few days.
However, you need to check whether your banks are operated on Monday and Tuesday as the holidays on the same days are negotiable. Seeing the extended holidays of the Banks, most companies will credit the salaries of the employees before the time.
A senior HR Manager at a media and publishing house in Mumbai said, “All our employees would receive their salaries early this month, as we considered the extended weekend and credited the remuneration on April 27 itself”.