Bank holidays in India are crucial for financial planning, affecting transactions, loan processing, and business operations. The Reserve Bank of India (RBI) and state governments declare these holidays based on national festivals, regional observances, and weekends.

Here’s a breakdown of the top 10 things you must know about bank holidays in India in 2024.

1. Types of Bank Holidays in India

  • National Holidays (e.g., Republic Day, Independence Day)

  • Religious Holidays (Diwali, Eid, Christmas)

  • State-Specific Holidays (e.g., Pongal, Onam, Bihu)

  • RBI-Declared Closures (Second & Fourth Saturdays, Sundays)

2. List of National Bank Holidays in 2024

DateHoliday
26 JanRepublic Day
15 AugIndependence Day
2 OctGandhi Jayanti
25 DecChristmas

3. State-Wise Bank Holidays

  • Maharashtra: Gudi Padwa (9 Apr)

  • Kerala: Onam (15 Sep)

  • West Bengal: Durga Puja (10-12 Oct)

  • Tamil Nadu: Pongal (15 Jan)

(Check RBI’s official list for your state!)

4. Monthly Second & Fourth Saturday Closures

  • All banks remain closed on the 2nd & 4th Saturdays of each month.

  • Example: 13 Jan, 27 Jan, 10 Feb, 24 Feb, etc.

5. Impact on Banking Transactions

  • No clearance of cheques on holidays.

  • Online banking works, but delays may occur in processing.

  • ATM services remain operational.

6. RBI Notifications & Updates

  • The RBI releases an annual list of bank holidays.

  • Emergency closures (e.g., strikes, natural calamities) are announced separately.

7. Bank Holidays for Stock Markets

  • BSE & NSE remain closed on major national holidays.

  • Example: Republic Day, Mahashivratri, Diwali.

8. How to Check Your Bank’s Holiday List?

  • Visit your bank’s official website.

  • Download the RBI holiday circular.

  • Use apps like Google Pay, PhonePe for updates.

9. Exceptions for Private & Foreign Banks

  • Some private banks (HDFC, ICICI, Axis) may operate on select holidays.

  • Foreign banks (Citi, HSBC) follow RBI + their own holiday calendars.

10. Planning Around Bank Holidays

  • Avoid cheque deposits just before a holiday.

  • Schedule EMI payments in advance.

  • Use digital banking for urgent transactions.

Bank holidays in India can affect your financial activities, so staying updated is essential. Bookmark the RBI’s official notifications and plan transactions accordingly.