Prime Highlights
- Indian banks shall remain closed on multiple occasions between August 11 and August 17 due to national and local holidays.
- Closures of significance are Independence Day, Janmashtami, Patriot’s Day, and weekend closures.
Key Fact
- August comprises up to 15 bank holidays in India covering national, local, and weekend events.
Key Background
August 11 through August 17, some bank branches in India will be closed on the account of a mix of national, state, and weekend holidays. The period is as per the Reserve Bank of India’s August holiday calendar and is state-dependent.
The week begins on Wednesday, August 13, as Patriot’s Day, which in Manipur is observed to honor the heroes of the Anglo-Manipuri War of 1891. It is a public holiday and applies only to Imphal branches.
The largest countrywide closure will be on August 15, the Independence Day, which is observed in all union territories and states. The day also happens to be Parsi New Year (Shahenshahi) and Janmashtami (Smarta) in some areas of the country, leading to combined celebrations and additional closures.
On Saturday, August 16, few of the states will observe Krishna Janmashtami (Shravan Vad-8), one of the important Hindu festivals commemorating the birthday of Lord Krishna. States and cities most likely to be shut are Gujarat, Mizoram, Madhya Pradesh, Chandigarh, Tamil Nadu, Telangana, Rajasthan, Uttar Pradesh, Bihar, Chhattisgarh, Meghalaya, Jammu & Kashmir, and Andhra Pradesh. The impact of the holiday will be limited local, therefore few states will experience normal banking business.
The week concludes with the weekly Sunday holiday on August 17, when all the branches of banks throughout the nation remain shut.
While the banks are shut, the customers will still be able to use ATMs, UPI services, mobile banking services, and internet banking. But operations such as cheque clearings, NEFT, and RTGS transactions with branch processing will be delayed.
Because of the overlapping of national holidays, local festivals, and weekend tours, this mid-August period offers an extended interruption to branch banking. Customers are asked to plan transactions in advance and utilize maximum available digital channels to avoid inconvenience.
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