look news india
Bank Holidays: If you have pending important financial tasks like check clearance, demand draft (DD), KYC update or depositing large cash by visiting the bank branch, then prepare to settle them immediately. According to the official bank holiday calendar released by the Reserve Bank of India (RBI), banks will remain closed for four consecutive days in many states of the country next week due to various regional festivals, state level holidays and weekends (Saturday-Sunday). To ensure that customers do not face any inconvenience while visiting the branch, Monday is the most suitable day when all the bank branches will function smoothly.
Classification of RBI Holidays: Regional and National Holidays
The Reserve Bank of India (RBI) divides the list of bank holidays into three categories—holidays under the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and closing of accounts of banks. This means that some holidays are applicable to all public and private sector banks across the country, while many holidays are effective only in particular states or cities as per local and regional festivals. Therefore, holiday days may vary according to different circles.
On which days will banks remain closed next week?
-
Monday (working day): At the beginning of the week, on Monday, all bank branches across the country will remain open normally, where customers can easily get all their banking operations done.
-
Regional holidays due to festivals: There will be a public holiday for banks in many states including Uttar Pradesh, Rajasthan, Madhya Pradesh, Gujarat, Bihar and Odisha on the occasion of holy festivals (like Rakshabandhan/Jhulan Purnima/local festivals) falling in the middle of the week.
-
Weekend holiday (4th Saturday and Sunday): According to RBI rules, there is a complete holiday on the fourth Saturday of the month and the next Sunday in all government (PSU Banks), private and foreign banks across the country. Due to this, banks will remain closed for two consecutive days at the end of the week.
These digital services will remain operational 24×7 even when branches are closed.
Despite bank branches remaining closed, customers will not face any major disruption in financial transactions, as modern digital banking services will remain operational 24 hours:
-
ATM and Cash Deposit Machine (CDM): ATMs and automated machines for cash withdrawal and cash deposit will function smoothly.
-
UPI: Fund transfers and bill payments through Google Pay, PhonePe, Paytm and other UPI apps will continue to operate seamlessly as usual.
-
Net Banking and Mobile Banking: The facility to send money online and check account balance through IMPS, NEFT and RTGS will be available seamlessly.
Important advice for customers
Customers who need to make a draft, clear a check of a large amount or access a locker, should check the location of their nearest branch in advance and complete their work on priority basis on Monday itself to avoid any kind of late fees or financial delay.