Published On : Wed, Sep 24th, 2014

Long Spell Of Bank Holidays Will Hamper Business Activities

bank-holidays-on-the-financial-markets-in-2014 in NagpurNagpur News.

In the wake of half yearly closing of Banks on 30th September and 1st October followed by continuous Bank Holidays to 6th October, the Confederation of All India Traders (CAIT) has advised traders and trade associations across the Country to complete all their work related to Banks by 29th September,2014 since after such a long spell of holidays, normal banking working is expected to be resumed by 8th October only.

In a communication sent to Trade Associations across the Country, CAIT President BC Bhartia and Secretary General Praveen Khandelwal has said that since Banks across the Country will observe half yearly closing on 30th September and 1st October, the Banks could do little public dealing whereas 2nd October being Gandhi Jayanti, 3rd October of Dushera, 4th October Saturday with hold day working and 5th October is Sunday and Bakrid though Banks have announced to observe 6th October as Bakrid Holiday, virtually there shall be no working in the Banks.

This long spell of Bank Holidays is at such a time when from tomorrow with first Navratra, festival season of traders is beginning which will continue till Diwali which will be further followed by Wedding season which goes upto 14th December and meanwhile season of Chirstmas and new year takes a beginning.

At such a time long spell of Bank Holidays will certainly hamper normal conduct of business operations in the Country as for the season sales, traders do lot of purchasing during these days to stock the material. In the wake of such a situation, the CAIT has advised traders across the Country to complete all necessary bank transactions by 29th September,2014.