Bank Holidays 2024: If you’re planning to visit your bank between October 14 and 17, 2024, it’s important to be aware of the upcoming bank holidays. The week is filled with significant festivals, including Durga Puja, Lakshmi Puja, and Kati Bihu, leading to a series of bank closures. However, these holidays vary by city, so it’s crucial to check local schedules to avoid any inconvenience.
Overview of Bank Holidays – Will banks be closed from Oct 14-17?
During this festive week, banks will observe holidays, but not all branches across India will be closed simultaneously. According to the Reserve Bank of India’s holiday list, banks in Gangtok will be closed for Durga Puja (Dasain) on both October 14 and October 15. In contrast, banks in most other cities—including Ahmedabad, Bengaluru, Chennai, Kolkata, and Mumbai—will remain open.
On October 16, banks will close for Lakshmi Puja, but again, this applies primarily to branches in Agartala and Kolkata. Most banks in other cities will operate normally, making this a good time to complete banking tasks if you’re not in the affected areas.
The holiday schedule culminates on October 17, when banks will observe Maharshi Valmiki Jayanti and Kati Bihu. On this day, banks will close in Bengaluru, Guwahati, and Shimla, while other cities will see regular operations.
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Importance of Checking Local Schedules
As the RBI sets the holiday list on a monthly and yearly basis, it’s essential to understand that bank holidays are categorized into three types: Holidays under the Negotiable Instruments Act, Real Time Gross Settlement Holidays, and Banks’ Closing of Accounts. Given the diversity in India, these holidays can vary significantly from one state to another and even between cities.
General Banking Schedule
In addition to these festive holidays, it’s important to remember that banks are generally closed on the second and fourth Saturdays of each month. Interestingly, if a month has a fifth Saturday, that day is a regular working day for banks. Historically, banks would also operate for half a day on Saturdays, but this has changed in recent years.
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Hence, if you plan to visit your bank during the October 14-17 window, make sure to verify the holiday status for your specific location. Understanding the local banking schedule will help you navigate your banking needs efficiently during this festive season.
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