 "Bank Holidays")
RBI placces bank holidays into three separate brackets.
Banks in many cities in India are closed today, September 16, for Eid-e-Milad-un-Nabi. If you are planning to visit the bank today, it is advisable to first check if the bank is open or closed in your state.
Every year, the Reserve Bank of India (RBI) shares an annual holiday calendar including all the national holidays and state-specific festivals, among others.
However, it is important to note that online and digital banking services will continue to operate as normal. All the online fund transfers, banking transactions, banking application ATMs or other services will remain operational throughout the day.
RBI shared a press release on September 14, which states that “The Government of Maharashtra has declared September 18, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on September 16, 2024 declared earlier has been cancelled.
Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions due on September 18, 2024 (Wednesday) will get postponed to the next working day, i.e., September 19, 2024 (Thursday).”
Bank holiday for Eid-Milad and long weekend in these states
Eid-e-Milad is a very significant festival for all Muslims as this festival is dedicated to honouring the birth of Prophet Muhammad. This day is referred to as Eid-e-Milad-un-Nadi, or Mawlid. It is a public holiday. Muslims across the globe observe this occasion with immense happiness. Mecca, which is a city in Saudi Arabia, is the birthplace of Prophet Muhammad. The teachings of Muhammad, the last Prophet, are considered highly beneficial to the community across the globe.
Banks are closed today
On the occasion of Milad-un-Nabi or Eid-e-Milad, the banks are closed in states which include Gujarat, Mizoram, Maharashtra, Karnataka, Tamil Nadu, Uttarakhand, Hyderabad – Andhra Pradesh, Hyderabad – Telangana, Manipur, Jammu, Kerala, Uttar Pradesh, New Delhi, Chhattisgarh and Jharkhand.
Other bank holidays in September
September 21 (Saturday): Sree Narayana Guru Samadhi Day; Banks are shut in Kerala.
September 22: Sunday
September 23 (Monday): Birthday of Maharaja Hari Singh Ji; Banks are shut in Jammu and Srinagar.
September 28: Fourth Saturday
September 29: Sunday
First Published: Sep 16 2024 | 12:02 PM IST
