Is Bank Open Tomorrow? October is a month full of festivals. Collectively banks in various states will be closed for 21 days in October 2022 due to the festive season.
Is Bank Open Tomorrow? October is a month full of festivals. Collectively banks in various states will be closed for 21 days in October 2022 due to the festive season. The bank holidays come into effect under three categories, including ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’, and ‘Banks’ Closing of Accounts’.
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Starting from 3 October, the banks will remain closed for the entire week in some of the cities. The banks were not functioning on October 1 due to Half Yearly Closing of the Bank Accounts and even today October 2 (Gandhi Jayanti) is a holiday.
It is the festival of Dussehra and banks will be closed for a few days in certain states. It is a national holiday on October 5 (Wednesday). In a few states, it also will be holidays on October 3 (Monday) and October 4 (Tuesday). In many states, they also celebrate Maha Ashtami, Maha Navami, and Vijaya Dashmi (Dussehra).
This year, Dussehra is observed on October 5, concluding Navratri, which began on September 26. On October 5, it is observed as Durga Puja/Dussehra (Vijaya Dashmi)/Janmotsav of Srimanta Sankardeva in many states. Banks are closed in all states except Manipur.
In many states, Dussehra is observed between October 3 – 7 and holidays vary with state.
Bank Holiday on October 3: Durga Puja (Maha Ashtami)
Banks will be closed in Agartala, Bhubaneswar, Guwahati, Imphal, Kolkata, Patna, and Ranchi.
Bank Holiday on October 4: Durga Puja/Dusshera (Maha Navami)/Ayudha pooja/ Janmotsav of Srimanta Sankardeva
Banks will be closed in Agartala, Bhubaneswar, Chennai, Gangtok, Guwahati, Kanpur, Kochi, Kolkata, Lucknow, Patna, Ranchi, Shillong and Thiruvananthapuram.
Bank Holiday on October 5: Durga Puja/Dussehra (Vijaya Dashmi)/Janmotsav of Srimanta Sankardeva
Banks will be closed across India, except in Imphal.
Bank Holiday on October 6: Durga Puja (Dasain)
Banks will be closed in Gangtok.
Bank Holiday on October 7
Banks will be closed in Gangtok.
Bank Holiday on October 8: Second Saturday and Milad-i-Sherif/Eid-i-Milad-ul-Nabi (Birthday of Prophet Muhammed)
Banks will remain closed in Bhopal, Jammu, Kochi, Srinagar, and Thiruvananthapuram.
Bank Holiday on October 9: Sunday
It is strongly encouraged that bank customers plan their bank-based work with all of these holidays in mind to prevent any confusion.
Stock Market Holiday Tomorrow?
The BSE and NSE will remain closed on October 5 (Wednesday) on account of Dussehra, October 24, Monday, for Diwali / Laxmi Puja, and October 26, Wednesday on account of Diwali Balipritipada.
Meanwhile, the Multi Commodity Exchange of India (MCX) will be closed for trading on October 5, 24, and 26 in the first half of the day’s trading session (between 9 and 5 pm).
Also, the agriculture commodity exchange NCDEX (National Commodity & Derivatives Exchange Limited) will remain closed for trading in the morning (9 am – 5 pm) and evening sessions (5-9 pm) on October 5 and 26.
