The 70 week deposit scheme however runs for only two days on April 4 and April 5. Now as per the RBI April 5 is a holiday under the Negotiable Instruments Act. The parent company of SBH, State Bank of India has issued a notice clearly stating that most of its branches are likely to remain closed on April 5.
Wonder what was the need to keep a scheme running for two days, especially when one of them is a bank holiday. Unless, of course State Bank of Hyderabad decides to keep its branches open on April 5, 2012.
And, wonder how many SBH customers will apply online?