Public sector banks to stay closed on Saturdays? PIB debunks fake govt notification

The Press Information Bureau (PIB) Fact Check unit has revealed that a deceptive notice purporting to announce Saturday as a public holiday for all public sector banks, including the State Bank of India (SBI), is circulating on social media. According to the PIB Fact Check, the document, which falsely appeared to be issued by the Ministry of Finance's Department of Financial Services, is entirely fabricated and there has been no such notification from the government.

The fact-checking unit stressed that the circulating document is a falsehood and urged netizens to report any dubious content related to the Central Government through its Fact Check platform. The recent demand for a five-day banking week, which has been a subject of discussion, has been underlined as the reason behind the proliferation of this fake notification.

The United Forum of Bank Unions (UFBU) had recently paused its proposed three-day nationwide strike following an agreement with the Indian Banks Association (IBA). One of the main points of contention in the talks was the demand for the remaining Saturdays to be declared as holidays. As per the understanding, a high-level committee comprising representatives from the IBA and UFBU will investigate the issue, consider alternative options, and engage with various stakeholders, including customers, to find a mutually agreeable solution.

However, the clarification from the PIB makes it clear that there is no official notification declaring Saturday a public holiday for public sector banks. The recent accord between the IBA and UFBU only served to facilitate discussions on the matter through a committee, rather than constituting a government directive to implement a five-day banking week.