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Move to reduce bank holidays hailed

COIMBATORE: The local chapter of the Indian Chamber of Commerce and Industry has welcomed the proposal of the Indian Banks Association (IBA) to reduce the number of bank holidays from 24 to 3.

In a statement here, the President of the chamber, A. V. Varadharajan, however, opposed the move to close the banks on Saturdays. The choice of functioning on Saturday and even on Sunday could be left to the individual banks. "The banks, depending on the location of their branch and business prospects in that location, can decide on the weekly holidays", he added. — By Our Special Correspondent

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