New Delhi, April 29: Will banks, the fundamental cornerstone of the financial system, remain closed for a cumulative total of 13 days in the month of May? No. The public and private lenders will not remain off for these number of days in the month. After several media outlets stated that a spree of public holidays would force the banks to remain closed, a fact-check found their reports to be factually incorrect. Banks in UP's Gautam Buddha Nagar Deliver Cash at Doorstep in Hotspots Amid Coronavirus Lockdown.

Claim: Due to the festive occasions Buddh Purnima (May 7), Rabindranath Tagore Jayanti (May 8), Shab-e-Qadar (May 21), Jamaat-ul-Wida (May 22) and Eid al-Fitr (May 25), some regions will find banks closed for upto 13 days, the reports said on Tuesday. The observance of Labour Day on May 1, along with four Sundays and 2 non-working Saturday will lead to bank closures on 13 days this month, they added.

Fact-Check: The reports were found to be speculative and void of base as the year calendar released by the Punjab National Bank - the country's second largest state-run lender - shows the number of off-days in the banking sector this month are lower as claimed.

See PNB Calendar

13-Day Bank Holiday Reports Found 'Fake'

Amid the state of lockdown imposed in all parts of the nation to contain coronavirus, the banks are functioning at a reduced strength for a limited number of hours. The branches are open for customers in most regions between 10 am to 2 pm. However, the ATM machines in all parts of the nation are categorised under essential services and functioning round the clock.

Fact check

Banks to Remain Closed For 13 Days in May 2020 Due to Public Holidays? Here's a Fact-Check on The Fake News
Claim :

Banks to remain closed for 13 days in May 2020.

Conclusion :

Fake news. The calendar issued by PNB contradicts the reports.

Full of Trash
Clean

(The above story first appeared on LatestLY on Apr 29, 2020 08:49 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).