Bank Holidays: Those who need to visit the bank to complete any business should check their state’s holiday information in advance. However, online banking services will remain operational during the holidays.
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Bank Holiday: If you have any bank-related work to do, this news is for you. Banks will be closed for three days starting today, except for Saturday. Therefore, it’s important to review the holiday list before heading to the bank to plan your work accordingly. These holidays are based on the RBI’s list.
The RBI divides bank holidays into three categories:
Holidays under the Negotiable Instruments Act—This refers to government holidays during which banks are completely closed, such as Holi, Diwali, Christmas, Ganesh Chaturthi, Eid, etc. These holidays impact check clearing and branch-based banking.
RTGS Holidays – Holidays under this scheme vary by state, depending on festivals and traditions. Bank branches are closed during these times, but digital services remain operational. On RTGS holidays, branches do not process Real Time Gross Settlement transactions.
Closing of Bank Accounts – Every year, April 1st is observed as the day of account closure. Since this day marks the beginning of the new financial year, bank employees are busy completing the accounts of the previous financial year, so even though the bank is open, there is no one to provide service at the counter.
When will banks be closed?
February 18 – Banks will be closed in Sikkim for the Losar festival. This is considered the first day of the Tibetan New Year. Banks will operate as usual in the rest of the country except Sikkim.
February 19 – Banks will be closed in Maharashtra for the birth anniversary of the brave Chhatrapati Shivaji Maharaj.
February 20 – Banks will be closed in Arunachal Pradesh and Mizoram for State Day. However, banking operations will continue as usual in other states.
February 22 – Banks will be closed across the country due to Sunday. This will impact banking services for a total of four days.
Use online banking
However, even when banks are closed, you can still use online banking, net banking, and UPI apps. Money transactions can be made through NEFT or RTGS. Additionally, transactions can be made using credit or debit cards. You can also use ATM machines to withdraw cash. Digital banking also allows you to request checkbooks and demand drafts, update your account, and set your PIN. However, for tasks like check clearance, cash deposits, or loan applications, you’ll need to wait until the branch reopens.
