The central bank has once again shown its proactive approach in its policies and directives. Based on the unpleasant incidents during the last few holiday seasons where ATM machines agitated its customers by either being out of order or totally short of cash; SBP has issues strict instructions to all public and private banks to ensure availability of cash on their ATM machines before and during Eid holidays. The central bank’s directive is issued stating this status should be maintained by all banks round the clock!
It is the responsibility of the governing body to make sure sufficient cash is available during the month of Ramadan and also during Eid holidays for the convenience of the general public. In its notice issued to all scheduled banks, SBP stressed that no ATM machine should be found in an “out of order” or “out of cash” state as it may lead to strict action by the central bank against the responsible commercial bank.
It was also mentioned that if any machine is currently facing any technical or administrative issue; it should be resolved within 48 hours. After the deadline is crossed, stringent action will be taken against the concerned bank.
For other banking services, SBP has notified that all branches of commercial banks shall remain open on these two days i.e. 2nd and 9th July (Saturdays). This directive will make sure smooth transactions of many individuals and businesses that remain open in this time period. It should be noted that not all commercial banks are open on Saturdays but amid the longest holiday period of 10 days; SBP required banks to remain open for at least two days during this period.
Lastly, it also clarified that along with enough cash replenishment banks shall also provide the contact details of the concerned person who can be contacted in case the customer face any difficulty during Eid-ul-Fitr Holidays. Let’s hope all customers can gain access to quick cash during the festive period when it is needed the most.
