New Delhi: Banks Bracing For Long Weekend Due to Republic Day 2024
NEW DELHI: Banks are bracing for a long weekend as the services at private as well as public banks will remain shut on January 26 on account of India’s 75th Republic Day.
Besides regional and national holidays, banks observe a holiday on the second Saturday, fourth Saturday as well as on every Sunday.
Henceforth, banks in many states will witness three days of consecutive bank holidays this week since Republic Day will fall on Friday followed by a fourth Saturday and Sunday.
However, customers will be able to avail all the banking and ATM services. One can complete most of their banking related work through mobile banking.
Moreover, bank holidays will differ from state to state and in January 2024 alone, the banks will remain shut for 16 days, including second Saturdays, fourth Saturdays, Sundays and other regional holidays.
Also, banks in many states observed a holiday on January 22, 2024 on the occasion of the inauguration of the much awaited Ram Mandir located in the holy town of Ayodhya.
Notably, banks were closed in January on the occasion of New Year’s Day, Missionary Day, Birthday of Swami Vivekananda, Pongal, Makara Sankranti festival, Bihu, Thiruvalluvar Day, Uzhavar Thirunal/Sri Guru Gobind Singh Ji’s Birthday, Pran Pratishthan (Consecration ceremony) of Ram Lalla in Lord Shri Ram Janmabhoomi complex/ Imoinu Iratpa, Gaan – Ngai/ Birthday of Netaji Subhas Chandra Bose, Thai Poosam/ Birthday of Md. Hazarat Ali and Republic Day.
The Reserve Bank of India (RBI) releases the list of bank holidays, which is based on various factors including national/state holidays, cultural or religious observance, operational requirements, government announcements and coordination with other banks.
It is to be noted that the RBI declares its holiday schedule through official channels, including its website and notifications to banks and financial institutions.