banking services will be affected due to regional holidays across India. According to the Reserve Bank of India’s (RBI) holiday calendar, banks will remain closed in specific regions for the celebration of Navratra Sthapna. This holiday is part of a larger trend in October, where banks will observe a total of 15 days off due to various national and regional festivities throughout the month.
Main Points
Overview of Bank Holidays in October 2024
October is a festive month in India, marked by significant celebrations such as Mahatma Gandhi Jayanti, Durga Puja, and Diwali. The RBI has categorized these holidays into three types: holidays under the Negotiable Instruments Act, Real-Time Gross Settlement holidays, and banks’ closing of accounts. This year, banks will be closed on several key dates:
- October 1 (Tuesday): General Elections to the State Legislative Assembly – Banks closed in Jammu.
- October 2 (Wednesday): Mahatma Gandhi Jayanti – Nationwide closure.
- October 3 (Thursday): Navratra Sthapna – Banks closed in Rajasthan.
- October 10 (Thursday): Durga Puja/Dussehra (Maha Saptami) – Banks closed in Agartala, Guwahati, Kohima, and Kolkata.
- October 11 (Friday): Dussehra (Mahashtami/Mahanavami) – Multiple states including Tripura, Karnataka, Odisha, and Tamil Nadu will see bank closures.
- October 12 (Saturday): Second Saturday and Dasara/Dussehra – Banks closed nationwide except in select cities.
- October 14 (Monday): Durga Puja (Dasain) – Closure in Gangtok.
- October 16 (Wednesday): Lakshmi Puja – Banks closed in Agartala and Kolkata.
- October 17 (Thursday): Maharshi Valmiki Jayanti/Kati Bihu – Closure in Bengaluru and Guwahati.
- October 26 (Saturday): Accession Day – Banks shut in Jammu and Srinagar.
- October 31 (Thursday): Diwali – Nationwide closure except for some regions.
Digital Banking Services Remain Operational
Despite the physical closures of bank branches on these holidays, customers can still access banking services through digital platforms. Online banking services such as internet banking, mobile banking apps, NEFT, RTGS, and ATMs will be fully operational. This means that customers can conduct transactions without interruption even when branches are closed.
Planning Your Banking Needs
For individuals planning to visit their local bank branch on October 3rd or any other holiday throughout the month, it is crucial to check the specific holiday schedule for their region. Each state may have different observances based on local festivals. For example, while banks are closed in Rajasthan on October 3rd for Navratra Sthapna, they remain open in other states.
Conclusion
As we navigate through this festive month filled with numerous bank holidays, it’s essential for customers to stay informed about when their local banks will be open or closed. Utilizing digital banking services can help mitigate any inconvenience caused by these closures.
