Public and private sector banks in India will remain closed Saturday, April 22, on account of Eid-Ul-Fitr. As per the holiday schedule provided by the Reserve Bank of India (RBI), this year, the bank holiday for Eid-Ul-Fitr will fall on the fourth Saturday of the month, which is a non-working day. In some banking regions, however, a holiday on account of Id-Ul-Fitr (Ramzan Eid)/Garia Puja/Jumat-ul-Vida has also been declared on Friday, April 21. In India, bank holidays are divided in two categories – National Holidays and Government Holidays.
National holidays, also known as gazetted holidays, include three days: Republic Day, Independence Day, and Mahatma Gandhi Jayanti. Banks and financial institutions are closed on these days.
Government holidays are further classified as state government bank holidays and Central Government bank holidays. Central Government bank holidays are observed throughout the country, while state government bank holidays apply to specific states.
For example, Maharashtra Day is a bank holiday in Maharashtra, Goa Liberation Day is a bank holiday in Goa, and Haryana Day is a bank holiday in Haryana.
Apart from the national and government holidays, banks in India also remain closed on the second and fourth Saturdays of each month. However, if a particular month has five Saturdays, then the fifth Saturday is a working day for banks. Previously, banks used to operate for only half a day on Saturdays.
During the month of April 2023, several private and public sector banks in India will be closed for a total of 15 days due to bank holidays, which include weekends. The closure will take place in accordance with the guidelines of the Reserve Bank of India (RBI) and will include the second and fourth Saturdays as well as Sundays.
According to the official holiday calendar of the Reserve Bank of India (RBI), both public and private sector banks in India will be closed on April 21, Friday for Eid-Ul-Fitr or Ramzan Eid/Garia Puja/Jumat-ul-Vida, and on April 22, Saturday for Eid-Ul-Fitr or Ramzan Eid. However, some zones including Agartala, Jammu, Kochi, Srinagar, and Thiruvananthapuram will only observe the holiday on April 21, while others such as Belapur, Bhopal, Chennai, Dehradun, Guwahati, Hyderabad, Imphal, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Panaji, Patna, Raipur, Ranchi, Shillong and Srinagar will remain closed on both April 21 and April 22. It is advisable to check with your local bank branch to confirm the holiday schedule.
Read all the Latest Business News, Tax News and Stock Market Updates here
Comments
0 comment