Bank Holidays August update: Banks to remain closed for 4 straight days starting tomorrow - Know details here

Banks in the country will be closed for four straight days this month starting August 14 (Saturday).

August 13: Patriot’s Day (Only Imphal)

August 14: Second Saturday

August 15: Independence Day/Sunday

August 16: Parsi New Year - Banks closed in Belapur, Mumbai and Nagpur

The guidelines released by RBI mentions that the public sector, private sector, foreign banks, cooperative banks, and regional banks across the country will stay shut on the mentioned dates. RBI notified holidays for lenders under these categories—the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts.

Bank holidays differ from state to state but on the following days, all the banks remain shut.

Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2), Christmas Day (December 25). Banks also remain shut on festivals including Diwali, Christmas, Eid, Guru Nanak Jayanti, Good Friday.

Another important thing to take note of is that banks remain closed on the second and fourth Saturdays of the month, and on Sundays, as it has been made compulsory by the RBI..