With no major national festivals, occasions in the month in August aside from Independence Day, banks in most cities across India will be functioning all days of the month except for 2nd, 4th Saturday, and all Sundays. As per RBI guidelines, banks in India usually remain shut on public holidays. However, certain bank holidays are state-specific which means on these days banks in some specific states remain shot.
All-India holidays include Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2). Festivals like Diwali, Christmas, Eid, Guru Nanak Jayanthi, Good Friday, and so on are also bank holidays. Further, both private and public sector banks remain closed on the second, fourth Saturday, and all Sundays of each month.
According to the Reserve Bank of India (RBI) website — rbi.org.in– banks in some cities will remain closed this month to observe some holidays like Bakri ID (Id-Ul-Zuha), Raksha Bandhan, Sri Krishna Janmashtami, Patriot’s Day, Independence Day, Tithi of Srimanta Sankardeva, Teej, Ganesh Chaturthi/Samvatsari (Chaturthi Paksha)/Vinayakar Chathurthi, Karma Puja, Indrajatra/Thiruvonam.
Banks in most cities will remain closed on August 1 and August 15 due to Eid-Ul-Zuha and Independence Day respectively. On August 3, banks will remain shut in Ahmedabad, Dehradun, Jaipur, Kanpur, Lucknow because of Raksha Bandhan. On August 11, banks in Bhubaneswar, Chennai, Hyderabad, and Patna will remain closed on the occasion of Sri Krishna Janmashtami.
And on August 12, banks will remain closed in Ahmedabad, Bhopal, Chandigarh, Dehradun, Jaipur, Jammu, Kanpur, Lucknow, Raipur, Ranchi, Shillong, Shimla, and Srinagar because of Janmashtami. Banks in Imphal will remain shut on August 13 for Patriot’s Day. Banks in Ahmedabad, Belapur, Chennai, Hyderabad, Mumbai, Nagpur, Panaji will remain closed on August 22 due to Ganesh Chaturthi.
Though all regular operations will remain closed during these holidays, mobile and internet banking will remain functional on most days. Also, not necessarily ATMs might disburse cash. So, to avoid such a situation one must keep some cash in case of an emergency. During the region-specific holidays, banks of that particular region will remain closed while banks on other regions will remain operational. Aside from these 10 holidays, there will be four Sundays in July, which will be regular weekly offs for banking staff.
(With inputs from TimesNowNews)