Updated May 21st, 2024 at 12:55 IST

Bank Holidays: In 18 States, Banks Will Be Closed On Thursday | Verify The Reason

Bank Holiday: India celebrates a number of different banking holidays all year round. These celebrations include state-specific festivals, and national holidays

Reported by: Pritam Saha
Bank Holidays: In 18 States, Banks Will Be Closed On Thursday | Check Reason | Image:X
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Bank Holidays: The majority of the nation's states will observe bank holidays on Thursday. Because of the nationwide celebration of Buddha Purnima, banks are closed on this day. Not all the states where the RBI has declared a holiday will have their banks closed at the same time. Only in certain states will banks continue to be closed. On the occasion of the Buddha Purnima holiday, all banks in the states of Agartala, Aizawl, Belapur, Bhopal, Chandigarh, Dehradun, Itanagar, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar would be closed. There are three bank holidays this week: May 23, May 25, and May 26. Nevertheless, you can finish your bank-related work during this period by using the internet, ATMs, mobile devices, and digital banking.

India celebrates a number of different banking holidays all year round. These celebrations include noteworthy observances, state-specific festivals, and national holidays. Under the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays, and Banks' Closing of Accounts, the Reserve Bank of India (RBI) defines specific holidays. During certain specified holidays, banks close and no in-person or physical banking services are offered. Nonetheless, handling financial activities, even over the holidays, is now easier thanks to contemporary digital banking options.

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Every Indian state has its own set of regional festivals and holidays in addition to the ones set down by the RBI. The banking holiday calendar is made even more diverse by the regional variations of these state-specific holidays. Please be aware that banks in India observe normal weekly holidays, which include closing on Sundays and the second and fourth Saturdays of every month.

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Published May 21st, 2024 at 12:54 IST