Indian banks are all set to enjoy a long back-to-back holiday week which started from August 18 due to Sunday. However, banks will continue to be closed for five more days in the coming days from August 19-26th. It needs to be noted that though, not all banks in India will be closed, as some of these public holidays are part of state holidays which vary from region to region.
August 19:
As per RBI, banks will be closed on August 19th due to the celebration of Raksha Bandhan/Jhulana Purnima/Birthday of Bir Bikram Kishore Manikya Bahadur.
On this day, banks in Agartala, Ahmedabad, Bhopal, Bhubaneswar, Dehradun, Jaipur, Kanpur, Lucknow, and Shimla will be closed.
August 20:
Further, banks are scheduled to be closed on August 20 due to the occasion of Sree Narayana Guru Jayanthi.
However, only banks in cities like Kochi, and Thiruvananthapuram will be closed.
August 21, 22, 23:
Banks will be operational throughout India on these three days before stepping into a long weekend.
August 24, 25:
Banks will be closed on August 24th due to the day being a fourth Saturday, while Sunday, August 25, is a default holiday.
August 26:
This will be the last holiday of August month. Banks will be closed on August 26 due to Janmashtami (Shravan Vad-8)/Krishna Jayanthi.
Banks in cities like Ahmedabad, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Andhra Pradesh, Telangana, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Patna, Raipur, Ranchi, Shillong, Shimla, and Srinagar will not be open on this day.
Bank Holidays In August:
In the current month, banks have holidays for a total of 13 days including the second and fourth Saturdays and four Sundays of the month.
There are five Saturdays in the current month, hence banks are closed on August 10th and 24th, while it will be operation on August 31 which is the last Saturday of August. Meanwhile, banks are closed on four Sundays which are August 4th, 11th, 18th, and 25th.
Further, apart from the special holidays between August 19 to August 26. Banks were also closed on August 3rd due to Ker Puja, on August 8th for Tendong Lho Rum Faat, August 13 for Patriot's Day, and on August 15 for Independence Day/Parsi New Year (Shahenshahi).
RBI's 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.
However, while bank branches are closed in cities during holidays, ATM services are fully operational.
Digitalisation has made it very easy to carry out banking transactions through mobile phones, ATMs, and the Internet. However, there are still several reasons to visit banks' branches such as transactions related to high amounts beyond maximum limits, foreign exchange transactions, queries and procedures related to accounts in other banks, loan closure or payments, and guidance or help related to bank accounts among others.
Hence, ensure, you remember these holiday dates, if you are planning to visit your bank branches anytime soon.
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