Stock Market, Bank Holiday: What Will Be Closed And Opened On Independence Day, August 15?

The 78th Independence Day of India is special and a day to feel freedom from day-to-day daily routines. The day is celebrated across the nation on August 15, 2024. Since it is a national holiday, a host of things will be closed. Also, financial transactions via bank branches will not be available. However, not all will be shut down, few services will be operational.

Stock Market Holiday:

Trading on BSE and NSE will be closed on August 15, 2024, due to the occasion of Independence Day. Trading will not be available in equity, equity derivative, SLB, currency, and currency derivative segments. Even commodities trading such as buying and selling in gold, silvers, F&O, crude and others will be closed too.

BSE and NSE offices will be shut too. Also, the settlement of transactions in the capital market will be closed, meaning, CDSL and NSDL.

Bank Holiday:

All banks will be closed in India. Hence, banking transactions such as opening an FD, transferring huge sums of money, applying for loans, submitting documents, or any other financial services that is required to visit your bank branch will not be available on August 15.

Independence Day holiday falls under RBI's Holiday under the Negotiable Instruments Act. Both private and PSU banks will be closed.

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.

ATM Services:

TM services will continue to be open 24X7 across India even on August 15. These services include withdrawing cash, checking balances, or printing statements. Also, some ATM services outside banks offer options to transfer money, cash deposits in in both card-based and card-less modes, and even apply for loans.

Government Offices, Corporates:

All government offices will be closed on August 15, hence, both central and state government employees will be on holiday. The income tax office too will be closed.

However, the Independence Day holiday in private companies will vary. Some foreign private companies follow different holiday patterns.

Schools:

All schools, colleges, and other educational institutions will also have a holiday on August 15. However, some of the institutions do organise Independence Day celebration services which include singing the national anthem and hoisting the flag in the early hours of August 15.

Transportations:

Buses and local trains will be operational on August 15. Although, services may be lower than a normal busy day. Further, airports will be opened and flights will continue to be operational as per their schedule. Also, long-journey trains will be in service.

Local taxis, Uber, and Ola will be in service on August 15.

There are several holidays declared in India, and some of them are restricted holidays and also gazetted holidays.

Some of these holidays are very local and hence are decided by the respective state governments. On the other hand, some of them are very mandatory and it is not a prerogative of anybody as these are already the national holidays in India.

Independence Day is a national holiday, commemorating India's independence from British rule on August 15, 1947.