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Fact Check

Fact Check: No banks will not be closed on every Saturday from 1st June

Fake news was circulated on social media that commercial banks would have a 5 day week and will be closed on every Saturday from 1st June but The Reserve Bank of India has reacted and cleared the air on the fake development.

The central bank said that it has not issued any direction with regard to a five day working of commercial banks and have also urged people to not to fall for the fake news.

Check out the tweets citing the fake news:


RBI said in its release “It has been reported in certain sections of the media that commercial banks would have a 5-day week in terms of RBI instructions. It is clarified that this information is not factually correct.”

Yogesh Dayal, Chief General Manager, RBI was quoted by a news agency saying that there have been reports in certain sections of media that commercial banks would have a 5-day week on RBI instructions. “This information is not factually correct. RBI has not issued any such directions”, he said.


For those unaware, branches of commercial banks observe holiday only on second and fourth Saturday of a month apart from Sunday. Meanwhile, the remaining Saturdays are a full working hour for all the banks.

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