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Bank it up as holidays are here

Come next week, you may have to scrounge for cash, as banks may remain closed till next Sunday. April 1, a Wednesday, is the financial year-ender or a 'closing of accounts and real-time gross settlement holiday', followed by Mahavir Jayanti on April 2. Good Friday and Hanuman Jayanti fall on April 3 and April 4 respectively, followed by a Sunday. Although the days off spell good news for bank employees, the general public may suffer due to unavailability of cash in ATMs and the inability to make urgent bank transfers. Some people will depend on their credit cards.

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Come next week, you may have to scrounge for cash, as banks may remain closed till next Sunday. April 1, a Wednesday, is the financial year-ender or a 'closing of accounts and real-time gross settlement holiday', followed by Mahavir Jayanti on April 2. Good Friday and Hanuman Jayanti fall on April 3 and April 4 respectively, followed by a Sunday. Although the days off spell good news for bank employees, the general public may suffer due to unavailability of cash in ATMs and the inability to make urgent bank transfers. Some people will depend on their credit cards.

Most are concerned about whether their salaries will be paid on time. Sameer Sawant, an IT professional, said he would try paying his bills online, but doesn't know if that will work. "My employer may pay my salary by Tuesday, but if I want to transfer it to my wife's account, it won't be possible. If anybody needs to pay EMIs, it will be forwarded to a later date and a penalty may be applied. And instead of going to a local grocer, I will have to go to a store that accepts cards," he added.

Student Mahak Rajgariah just finished her exams and has already withdrawn enough money for the week ahead. "The ATM near my hostel is usually out of cash by evening, so I withdrew money earlier. I intern sometimes, so I don't know how I will deposit my cheque. It's hard for outstation students like me because we don't have family in the city to give us money. I will feel embarrassed if I can't pay when I go out with friends on weekends," she said. 25-year-old Abhineet Menon, a digital marketer by profession, said he would use his cards wherever possible and save his cash for the week. "I will withdraw enough to suffice for the week. I hope it's enough," he said.

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