New Delhi: Banks will have extended holidays this week between August 4 and August 10, as per the RBI bank holiday list. However, it must be noted that these holidays will not be staight holidays for all branches across the country. Banks will be closed in various states for different festivals and regional celebrations being observed this week.
8 August, Friday: Bank Branches closed in Gangtok for Tendong Lho Rum Faat.
9 August, Saturday: Banks Branches closed in Ahmedabad, Bhopal, Bhubaneshwar, Dehradun, Jaipur, Kanpur, Lucknow, Shimla closed on account of Raksha Bandhan and Jhulana Purnima
9 August, Saturday: Banks across country also closed on second Saturday
10 August, Sunday: Banks across India closed for Sunday weekend holiday
Furthermore, you must note that the banks will NOT be closed for all the days consecutively in all states or regions. This is the total number of days when banks in different parts of the country will remain closed for state-observed holidays. For instance banks will be closed for Birthday of Birthday of Maharaja Bir Bikram Kishore Manikya Bahadur in Agartala, but in other states it will NOT be closed for the same reason.
Reserve Bank of India places its Holidays under three brackets --Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks’ Closing of Accounts. However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.
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