No Change in Saturday Bank Holiday Regime for Banks: PIB Fact Check Clarification

Background: Viral “Gazette” on Saturday Bank Holidays

A document circulating widely on social media and messaging platforms claims that the Central Government has declared every Saturday a public holiday for Public Sector Banks, including State Bank of India. The document is styled as a Gazette of India notification, dated 30 September 2026, and purports to rely on Section 25 of the Negotiable Instruments Act, 1881.

PIB Fact Check has publicly clarified that this document is fake. According to the clarification, the Ministry of Finance, Department of Financial Services has not issued any notification converting all Saturdays into public holidays for Public Sector Banks. Consequently, there is no legal change in the existing framework for Saturday bank holidays.

For assessee, businesses, finance professionals and other bank customers, this means the legal position continues to be governed by the Central Government notification dated 20 August 2015 and related regulatory communications, not by the viral document.

Nature of the Fake Notification and Its Claims

The forged document that has been circulating attempts to imitate an official Government notification in multiple ways. As described, it:

  • Claims to be a Gazette of India notification dated 30 September 2026;
  • Mentions the Ministry of Finance, Department of Financial Services;
  • States that it has been issued under powers conferred by Section 25 of the **Negotiable Instruments Act, 1881`;
  • Asserts that every Saturday has been declared a public holiday for all Public Sector Banks, including State Bank of India, “with immediate effect”.

PIB Fact Check has categorically rejected these assertions and clarified that:

No such notification has been issued by the Ministry of Finance declaring every Saturday as public holiday for public sector banks.

Accordingly, the viral document does not create any legal rights or obligations and cannot be treated as an operative notification for banking holidays.

Statutory Basis: Notification Dated 20 August 2015

The operative legal framework for Saturday bank holidays is based on the Central Government notification S.O. 2285(E) dated 20 August 2015, issued under Section 25 of the **Negotiable Instruments Act, 1881`.

This notification, issued by the Ministry of Finance, Department of Financial Services, provides that:

The Central Government hereby declares the second and the fourth Saturday of every month as public holiday for banks in India, whether or not such banks are included in the Second Schedule to the Reserve Bank of India Act, 1934, with effect from 1 September 2015.

Practical Working Pattern Under the 2015 Notification

Based on the above notification, the standard pattern for banks in India is:

  • First Saturday – Normal working Saturday, unless some other specific holiday notification applies;
  • Second Saturday – Public holiday for banks (non-working);
  • Third Saturday – Normal working Saturday, unless otherwise declared a holiday;
  • Fourth Saturday – Public holiday for banks (non-working);
  • Fifth Saturday (where applicable) – Normal working Saturday, unless covered by some other holiday declaration.

Thus, only the second and fourth Saturdays are bank holidays by virtue of the statutory notification.