Bank Holidays

Bank holidays are designated closure days that can impact both individuals and businesses. Knowing about the importance of bank holidays and how they affect financial activities can prevent disruptions and ensure smooth operations.

Businesses that rely on banking services, such as payroll processing or cash flow management, can adjust their schedules around bank holidays to minimize disruptions. Individuals can stay on track with their finances by planning for bill payments, deposits, or withdrawals on business days. Even travelers must account for bank holidays to ensure access to banking services during their trips. Overall, knowing bank holidays in advance help you properly plan your financial transactions.

Bank holidays in India are classified into three main categories by the Reserve Bank of India (RBI):

  • Negotiable Instruments Act holidays
  • Negotiable Instruments Act and Real-Time Gross Settlement holidays
  • Banks' Closing of Accounts.

The first category includes national holidays impacting all banks. The second comprises national and regional holidays, with some closures for internal purposes. The third refers to bank closures for specific internal activities like annual account closing.

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Bank Holidays List of 2024

Banking operations facilitate financial transactions and maintain economic stability. However, there are specific days throughout the year when banks remain closed for regular business, known as bank holidays.

Here's a complete list of bank holidays in 2024.

National Holidays (2024)
Holiday Description Date Day
New Year's Day January 1 Wednesday
Republic Day January 26 Friday
Maha Shivratri February 19 Monday
Holi March 7 Thursday
Good Friday March 29 Friday

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Sample State-Specific Holidays (Dates may vary)
Ugadi/Gudi Padwa (Karnataka, Andhra Pradesh, Telangana) April 9 Tuesday
Bohag Bihu (Assam) April 14 Sunday
Every Second and Fourth Saturdays
Note- For the complete list of holidays, including additional state-specific holidays, please visit the RBI website or your bank's website.

Types of Bank Holidays

Banks and financial institutions operate according to designated schedules, which include specific days when they remain closed for regular business operations. Each category of bank holiday has its unique implications and impacts the availability of banking services differently.

In India, the Reserve Bank of India (RBI) categorizes bank holidays into three main types.

Negotiable Instruments Act (NI Act) Holidays

These are national holidays mandated by the Negotiable Instruments Act. These holidays affect the timelines for presenting cheques and other negotiable instruments.

Specific Examples

In addition to Independence Day, Republic Day, and Mahatma Gandhi Jayanti, other NI Act holidays might include the following holidays:

  • Good Friday
  • Christmas Day
  • Diwali (varies depending on lunar calendar)
  • Eid al-Fitr (varies depending on lunar calendar)


These holidays extend deadlines for presenting cheques and other negotiable instruments (promissory notes, bills of exchange). For instance, if a cheque is due on an NI Act holiday, the due date is typically the following business day.

Real-Time Gross Settlement (RTGS) Holidays

The RTGS system facilitates immediate interbank fund transfers, ensuring the swift movement of money. RTGS holidays are days on which the RTGS system, used for interbank electronic fund transfers, is not operational. Banks may or may not be closed on these days.

When are RTGS Holidays?

These holidays are typically less frequent than NI Act holidays and may occur for specific reasons like system maintenance or upgrades.


On RTGS holidays, interbank electronic fund transfers won't be processed. However, some banks might still be open for other transactions like cash deposits or withdrawals.

The RBI usually announces RTGS holidays in advance. Banks notify their customers through their websites or branch notices.

Bank Closing of Accounts Holidays

These are days designated by individual banks for closing their accounts. These holidays typically fall on the second and fourth Saturdays of every month.


These days are designated for internal bank processes like account reconciliation or maintenance tasks.


These holidays typically fall on the second and fourth Saturdays of every month, but individual banks might have variations.


Banks are generally closed for most customer transactions on these days. However, some banks might offer limited services or have designated branches open on these Saturdays.

For urgent transactions on closing days, customers can utilize online banking services (if available) or visit alternate branches that might be open.

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Saturday Bank Holidays

In India, the banking industry follows a unique practice of observing specific Saturdays as non-working days. The banks will remain closed every second and fourth Saturday. This schedule is implemented by the Reserve Bank of India (RBI) and is observed by all scheduled commercial banks across the country.

Here's a comprehensive list of the Second and Fourth Saturday bank holidays in India becoming essential for effective planning and preparation.

Date (2024) Holiday
January 13 Second Saturday
January 27 Fourth Saturday
February 10 Second Saturday
February 24 Fourth Saturday
March 9 Second Saturday

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History of Bank Holidays In India

The origins of bank holidays in India can be traced back to the pre-independence era when the country was under British rule. The designated non-working days for banks and financial institutions have played a significant role in shaping the banking industry's operations.

Let's look at a few notable events in the history of bank holidays.

  • British Influence: During British rule, bank holidays likely existed based on practices in the UK.
  • Negotiable Instruments Act (1881): This act established a framework for negotiable instruments like promissory notes and bills of exchange. It included a list of holidays on which these instruments wouldn't be enforceable. This list likely formed the foundation for modern bank holidays.
  • Reserve Bank of India (RBI): Established in 1935, the RBI has since been responsible for issuing notifications regarding bank holidays. These holidays are a combination of national holidays and holidays specific to certain regions.

Individuals and businesses can make informed decisions, minimize disruptions, and maintain efficient financial operations throughout the year with updated knowledge about bank holidays. This information is readily available through financial institution websites, calendars, and government resources, making it accessible to those seeking to plan accordingly.

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Frequently Asked Questions

In India, banks are closed on the second and fourth Saturday of every month. So, both the second and fourth Saturdays are bank holidays.

Banks in India are typically closed on all Sundays, the second and fourth Saturdays of every month, and all national holidays. There are also state-specific holidays throughout the year.

The number of bank holidays in India varies depending on the state. However, all banks are closed on national holidays like Republic Day and Independence Day, and second and fourth Saturdays of every month. There are also additional holidays for local festivals.

No, not all state holidays apply to all banks in India. There are national holidays that apply to all banks, but some state-specific holidays may not apply. You can find a list of bank holidays for your state by searching online.

Banks are closed on the second and fourth Saturday of every month. This applies to all types of banks, including public and private sector banks. ATMs and internet banking services are still operational these days.

The 2nd and 4th Saturday of every month are bank holidays. This is determined by the Reserve Bank of India and applies to all banks in the country. It allows bank employees a break and extends the weekend for some transactions.

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