3 upcoming bank holidays-Possibilities of cash crunch
Possibility of cash crunch from 28th April to 30th April due to bank holidays on these 3 days.
There is a possibility of cash crunch once again. This is the last week of April and 28th April happens to be 4th Saturday of the month. Banks remain closed on 2nd and 4th Saturdays of every month. 29th April is a Sunday and 30th April is again a gazetted holiday.
Since banks will be closed for 3 consecutive days, public might face cash crunch. As per finance department, cash demand in the nation is around 20 thousand crore rupees every month. This year cash demand in the earlier part of April went as high as 45 thousand crore rupees. This sudden rise in graph was seen mainly in Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh and Bihar as a result of which ATMs went dry in April.
With the upcoming bank holidays, public might face cash issues once again from 28th April to 30th April.media reports