(Image source from: livemint.com)

The Finance Ministry on Friday took notice of a rumor on social media over the closure of banks for six days in the first week of September and made clear that the banks and banking activity will endure unobstructed in the week.

"It has come to notice that a rumor is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public," the Ministry said in a statement.

"It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September," it said.

The Ministry said banks will remain open throughout the week, observing holidays only on Sunday, September 2, and second Saturday, September 8. Monday, September 3, is not a pan India holiday and banks lone in some states where a holiday is declared under the Negotiable Instruments Act, 1881, will remain closed, it said.

"Even on those days, ATMs in all states will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for dispensation from ATMs. Banks will remain open on all other days," it added.

The rumor on social media, chiefly a WhatsApp message that went viral on Thursday, even encouraged some mainstream media to report, therefore. However, the IANS report on Thursday stated precisely what the Ministry said on Friday.

By Sowmya Sangam