Keep banks open as holidays will hit businesses: Noida traders’ body

Keep banks open as holidays will hit businesses: Noida traders’ body

Keeping in mind the problems faced by traders and industrialists due to the holidays in banks, traders’ body of Noida sector 18 market association has sought to keep banks open.

“Sent letters to the Union Finance Minister Nirmala Sitharaman, Governor of Reserve Bank of India Shaktikanta Das and Regional Director of Reserve Bank of India regarding the difficulties faced by traders and industrialists due to frequent holiday in banks,” said Sushil Kumar Jain, president of the Noida sector 18 Market Association.

Through the letter sent, he said the work of the banks will be executed in the nationalised banks between March 27 and April 4 for only three days.  “Meanwhile, 27 March – Fourth Saturday, 28 March – Sunday, 29 March – Holi, April – Annual Audit, 2 April Good Friday and 4 April Sunday, thus the bank will be closed for days,” he wrote.

“Due to the national festival Holi festival, shopping is done in large quantities by consumers and micro and small traders.  Since Good Friday is the same month, consumers and traders buy and sell goods according to their requirements, traders sell goods by stocking goods, keeping in view of festivals, due to which increase in sales and sales is received in banks daily.  Deposits and withdrawals have to be made.

“In the same sequence, since in the past also, in such circumstances, the RBI has provided cooperation for the traders and consumers.  Due to declaration of long-term holiday in banks, bank employees residing in remote places go home on holiday to celebrate the festival.  Due to only 3 working days in banks, bank related work will be adversely affected, which will affect the business and industry of the state and the country.”

Jain urged the Sitharaman to make necessary arrangements to issue additional instructions to all the banks/officers/employees in banks under essential service during the holiday period, so that traders and industrialists and common citizens don’t suffer.

“There should be no difficulty in withdrawing and depositing funds from it,” he said.