Image Source : FILE Bank holidays
The Reserve Bank of India (RBI) annually releases a list of bank holidays, including gazette public holidays and notable festivals. However, this list does not encompass state-wise holidays, which may vary depending on regional festivals and occasions.
Regarding Monday, February 19, 2024, there is ambiguity regarding bank closures. While banks across Maharashtra will remain closed due to the observance of Chhatrapati Shivaji Maharaj Jayanti, banks in all other states will operate normally on that day.
Chhatrapati Shivaji Maharaj Jayanti, also known as Shiv Jayanti, is celebrated in Maharashtra and is recognised as a public holiday. It marks the birth anniversary of Chhatrapati Shivaji Maharaj, the Maratha warrior king, and is observed annually on February 19.
In February 2024, banks will be closed for a total of three days, including February 19. Besides Maharashtra’s closure on February 19, banks in the state will also be closed on February 20 and 26.
The Reserve Bank of India categorises bank holidays into three main groups: holidays under the Negotiable Instruments Act, holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday, and bank account closing days.
Additionally, in March 2024, there are two notable bank holidays during which banks will remain closed in several states. On March 8 (Monday), banks will be closed for Mahashivratri, and on March 25 (Monday), they will be closed for Holi.
Holi falls on Monday following the fourth Saturday of the month and Sunday, resulting in banks being closed for three consecutive days during that week.
