Prepare for a long weekend from Saturday, August 24, to Monday, August 26, 2024, due to a series of holidays. This extended break includes both regular and special observances affecting bank operations and business closures.
Holiday Schedule:
- August 24 (Saturday): Banks will be closed nationwide as it is the fourth Saturday of the month. According to standard banking practice, banks are closed on the second and fourth Saturdays.
- August 25 (Sunday): As a regular weekend day, most businesses, including banks, will be closed across the country.
- August 26 (Monday): Krishna Janmashtami, a major Hindu festival celebrating the birth of Lord Krishna, will be observed. Many banks and businesses may remain closed to mark this significant occasion.
States with Bank Closures:
During this long weekend, banks will be closed in Gujarat, Orissa, Chandigarh, Tamil Nadu, Uttarakhand, Sikkim, Andhra Pradesh, Telangana, Rajasthan, Jammu, Uttar Pradesh, West Bengal, Bihar, Chhattisgarh, Jharkhand, Meghalaya, Himachal Pradesh, and Srinagar.
States with Open Banks:
However, banks will remain open in Tripura, Mizoram, Maharashtra, Karnataka, Assam, Manipur, Arunachal Pradesh, Kerala, Nagaland, New Delhi, and Goa.
Important Considerations:
Bank holidays can vary by state based on regional practices and observances. To avoid any inconvenience, customers are advised to check the specific holiday schedule with their nearest bank branch in advance.
Types of Bank Holidays:
- Negotiable Instruments Act Holidays: These days affect transactions involving negotiable instruments like checks and promissory notes.
- Real-Time Gross Settlement (RTGS) Holidays: Banks are closed for RTGS transactions, which enable instant money transfers between banks.
- Account Closing Days: Banks may be closed for internal operations such as account reconciliation or annual closings.
Make sure to plan accordingly and use digital banking services where possible to manage your finances during the holiday period.