Bank Holidays From August 28 To August 31 Amid Raksha Bandhan; Check Cities List Here

Banks are set for a long weekend from August 28 to September 3rd. This week, from August 28 to August 31, banks in various cities are closed due to various occasions, one of the major ones being the celebration of Raksha Bandhan. That being said, except September 1, when all banks across the country are working, the remaining six days of the week are a holiday depending from city to city. Let's check out, which cities, and banks will be closed this week.

On August 28 and August 29, banks in Kochi and Thiruvananthapuram are closed due to the occasion of First Onam and Thiruvonam respectively.

Banks are closed on August 30 due to Raksha Bandhan in areas of Jaipur, and Shimla. However, on August 31st, due to Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol, banks are closed in regions of Dehradun, Gangtok, Kanpur, Kochi, Lucknow, and Thiruvananthapuram.

The remaining banks will be operating as per schedule.

Bank holidays in India and for that matter, the public holidays are decided by the central government, the state government and the various union territories in the country.

As per RBI, bank holidays are divided into three categories. These are holidays under the Negotiable Instruments Act; holidays under the Negotiable Instruments Act and Real Time Gross Settlement Holidays; and banks' closing of accounts.

The holidays from August 28 to August 31 fall under the Negotiable Instruments Act.

In August, banks had a total of 14 days of holidays including Sundays, and second and fourth Saturdays. This is lower compared to a total of 15 days holiday which was declared in July 2023.

However, in recent times, banking transactions can be carried out in a few clicks and steps digitally. Sending and receiving money has become as easy as a few swipes on your WhatsApp. Although banks will be closed in these cities this week, the ATMs will be operational for services like deposits, cash withdrawals, bill payments and checking account balances among others.

Certain transactions do require a visit to bank branches. Some of these can be --- account opening, cash receipts, cash payments, cheque book issues, opening and closure of fixed deposits, issuance of demand drafts, safe deposits locker, queries or operations related to current and savings accounts, updating or applying for passbooks, closure of advances and loans, and even investment advice among others.

Hence, if you plan to visit your bank's branches this week, check this list to know whether your bank is open or not.