Bank Holidays August 2023: From Raksha Bandhan To Independence Day, Banks To Remain Close For 14 Days

The August month is just around the corner and banks are in for a hefty holiday. Apart from the usual Saturdays and Sundays, banks will be closed for a total of 14 days for special occasions like Independence Day, Thiruvonam, Parsi New Year, and First Onam among others. Citizens planning to carry out any financial transactions by visiting private and public sector banks in August, then they should keep a tab on the list of holidays in the month.

Here is the list of holidays for banks in August 2023, as per RBI's data.

Banks will be closed in the region of Gangtok on August 8th for the occasion of Tendong Lho Rum Faat.

Banks across India will be closed due to the celebration of the Independence Day on August 15. Apart from this, banks in the region of Belapur, Mumbai, and Nagpur will be shut owing to Parsi New Year (Shahenshahi).

Further, banks will also be closed in the region of Guwahati for the occasion of Tithi of Srimanta Sankardeva on August 18. Meanwhile, banks in Kochi and Thiruvananthapuram will remain closed on August 28 and 29th for First Onam and Thiruvonam.

Lastly, banks will be closed in the region of Jaipur and Shimla for the celebration of Raksha Bandhan on August 30. Also, banks will be shut on August 31 in the regions of Dehradun, Gangtok, Kanpur, Kochi, Lucknow, and Thiruvananthapuram for Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol.

These festivals and special occasions account for 8 days of holidays in August month under the Negotiable Instruments Act.

Apart from this, banks will be closed on four Sundays, and the second and third Saturdays of August month, which is the mandatory holiday granted to them.

This takes the total to 14 holidays in August 2023 for banks.

It needs to be noted that despite bank branches being closed on the above-mentioned holidays in August, the internet banking services and ATMs will continue to be operational.

Services that are provided in bank branches are account opening, cash payments, cash withdrawals, chequebook application, cheque issuance, closing and opening of fixed deposits, safe deposit lockers, demand drafts, loan applications and closure, among others.

In July 2023, banks had a holiday of 15 days overall.