Bank Holidays 2024: Why Banks Will Be Closed In New Delhi From 2 PM Onward On Thursday, October 24?

Bank Holidays 2024: Banks in some cities of India will be closed from 1400 hours or 2 PM onward on Thursday, October 24, 2024. That means these banks have a half day tomorrow. The reason for this is the Reserve Bank of India (RBI).

Bank Holidays 2024:

As per RBI's holiday list, banks will have a half day because "the office of Reserve Bank of India, New Delhi will close at 1400 hours on October 24, 2024 (Thursday)."

Since the office of RBI will close in Delhi, hence, banks in the city will be closed from 1400 hours onward.

Banks in cities like Agartala, Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Dehradun, Guwahati, Andhra Pradesh, Telangana, Imphal, Itanagar, Jaipur, Jammu, Kanpur, Kochi, Kohima, Kolkata, Lucknow, Mumbai, Nagpur, Panaji, Patna, Raipur, Ranchi, Shillong, Shimla, Srinagar, and Thiruvananthapuram - will be operational for its normal hours on October 24.

There in a total 18 bank holidays in October 2024. This is including 2 second and fourth Saturdays, and four Sundays. While there are 12 special holidays which means occasions like festivals. In October, there were festivals like Navratri, Dussehra, and occasions like Gandhi Jayanti, assembly elections and even Kati Bihu among others.

These 18 holidays exclude the closure of the RBI office in New Delhi.

It is the RBI that decides on bank holidays every year. The holidays are divided into three categories such as -- Holiday under the Negotiable Instruments Act; Holiday under the Negotiable Instruments Act and Real Time Gross Settlement Holidays; and Banks' Closing of Accounts. Bank holidays in India 2024, vary from state-to-state and city-to-city.

What transactions you can carry at your bank branches?

As per the guidelines of RBI, all money market segments, namely, call/notice/term money, market repo and Collateralised Borrowing and Lending Obligation(CBLO) will remain open on all working Saturdays as on any normal business day.

While payment services such as Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT), Cheque Clearing operated by various Bankers' Clearing Houses in the country including the grid-based Cheque Truncation System (CTS) and ECS suite [Electronic Clearing Service (ECS), Regional Electronic Clearing Service (RECS) and National Electronic Clearing Service (NECS)] - will be operational at banks today.