 "Bank Holidays")
RBI placces bank holidays into three separate brackets.
The Reserve Bank of India (RBI) releases a list of bank holidays each month so that customers can plan their branch visits accordingly. Banks in several states will be closed on Wednesday, July 17, for Muharram.
List of states that have a bank holiday on July 17:
Andhra Pradesh
Mizoram
Rajasthan
Tamil Nadu
Gujarat
Karnataka
Telangana
Andaman & Nicobar
Bihar
Chhattisgarh
Delhi
Tripura
Uttar Pradesh
Jammu and Kashmir
Jharkhand
Lakshadweep
Madhya Pradesh
Maharashtra
Odisha
Meghalaya will observe a holiday for U Tirot Sing Day on the same date.
Apart from the national and regional holidays mandated by the RBI, banks in India are also closed on:
July 21: Weekend (All states)
July 27: Fourth Saturday of the month (All states)
July 28: Weekend (All states)
The RBI classifies holidays into three categories:
Real-Time Gross Settlement Holiday: RTGS transfer is available round the clock and 365 days every day of the year including weekends and public or bank holidays. The funds are transferred in real-time to the beneficiary account and you do not need to visit the bank branch to initiate an RTGS transfer
Banks’ Closing of Accounts Holiday: As per the regulations, all banks will be closed on Sundays, second and fourth Saturdays, and national and regional holidays.
Holidays under the Negotiable Instruments Act: The holiday declared under the Negotiable Instruments Act applies only to government departments and banks, insurance, and other financial undertakings.
If plan to visit banks this month, make sure that you are aware of these holidays. However, the online banking and ATM services will remain active throughout the month.
Stock market holiday on Muharram:
NSE and BSE, will be closed on Wednesday, July 17 for Muharram.
First Published: Jul 16 2024 | 10:51 AM IST
