Bank Holidays 2024: In a move to keep the public informed, the Reserve Bank of India (RBI) has unveiled the Bank Holidays 2024 list, outlining the designated days when banks will be closed. The month of January, in particular, presents a noteworthy compilation of 16 holidays that will impact banking operations across the nation.
The month unfolds with New Year’s Day on January 1, observed as a Monday and designated as a bank holiday. Republic Day on January 26 also features prominently in the list of significant public holidays for the month.
Makar Sankranti, celebrated under various names across the nation, is among the festival-related holidays contributing to the month’s holiday count. Additionally, numerous states will observe local festivals, resulting in additional days of bank closures.
The RBI categorizes bank holidays into ‘national’ or ‘regional,’ with national holidays leading to the closure of branches nationwide. The routine closure of banks on second and fourth Saturdays, along with Sundays, is also highlighted in the RBI’s classification.
The three categories delineated by the RBI for bank holidays are: Holidays under the Negotiable Instruments Act, Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday, and Banks’ Closing of Accounts.
It is crucial to note that even on non-working days, online financial services continue to operate as usual, providing individuals with a convenient alternative for transactions like fund transfers or payments.
Here’s a breakdown of the bank holidays in January 2024 across India:
Weekly Holidays:
January 7: Sunday holiday
January 13: Second Saturday and Lohri festival
January 14: Sunday holiday
January 20: Sunday holiday
January 27: Fourth Saturday
January 28: Sunday holiday
Festival-Related Holidays:
January 11: Missionary Day in Mizoram
January 12: Swami Vivekananda Jayanti in West Bengal
January 15: Makar Sankranti/Pongal/Magh Bihu festival nationwide
January 16: Thiruvalluvar Day in West Bengal, Assam, and Chennai
January 17: Guru Gobind Singh Jayanti in many states including Punjab
January 23: Netaji Subhash Chandra Bose Jayanti in many states
January 25: Himachal Pradesh State Day, Chai Poosam, or Mohammad Hazrat Ali Birthday in many states
January 26: Republic Day nationwide
January 31: Mee-Dam-Mee-Fee holiday in Assam
In light of these holidays, it’s advisable to stay informed and plan banking activities accordingly to avoid inconvenience. Online banking, UPI apps, and ATMs remain operational even on holidays, offering accessible alternatives for financial transactions.