Bank Holidays 2023 in India: Date, Day and Types of Holidays

In India, a bank holiday refers to a particular public holiday designated to banks and financial organizations. Not every one of the public holidays is deemed a bank holiday. The Central/State Governments or Union Territory governments decide bank holidays in compliance with the Negotiable Instruments (NI) Act of 1881. There are certain times when the bank declares holidays apart from the events that have been mentioned below. In case this happens then the notice is published beforehand and it is brought to the attention of the bank staff and the citizens. Below is a general list of 42 common bank holidays observed in India.

List of Bank Holidays in India

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Types of Bank Holidays

In India, there are several types of bank holidays, each designated for specific reasons or occasions. The common types of bank holidays in India include:

National Holidays:

These are observed nationwide and include days like Republic Day (January 26th), Independence Day (August 15th), and Gandhi Jayanti (October 2nd).

Festival Holidays:

These holidays are celebrated based on various religious and cultural festivals such as Diwali, Eid, Christmas, and Holi. The dates for these holidays vary each year based on the lunar calendar or religious observations.

Regional Holidays:

Some holidays are specific to certain states or regions, such as Pongal in Tamil Nadu or Onam in Kerala. These holidays are observed only in the respective regions.

Public Holidays:

These are holidays that are recognized by the government and banks are closed. They can include various events, historical commemorations, or observances.

Bank Holidays:

These are specific to the banking sector and include holidays like the annual closing of accounts, which usually occurs on April 1st.

Second and Fourth Saturdays:

In many parts of India, banks remain closed on the second and fourth Saturdays of each month, as part of the “Saturday banking holiday” system. However, some banks remain open on the second Saturday while closing on the fourth, or vice versa.

Restricted Holidays:

Some organizations and institutions, including banks, may provide a list of optional holidays or restricted holidays. These allow employees to choose specific days off based on their preferences or cultural beliefs.

FAQs

How many bank holidays are there in 2023 in India?

There are 60 bank holidays in 2023 in India.

Is all Saturday bank holiday from 2023?

No, Not all Saturdays are bank holidays from 2023. Indian banks are usually non-operative on the second and fourth Saturdays of each month, as well as every Sunday.

Why is it important to know the bank holidays for 2023?

It is important to know the dates of bank holidays for 2023 so that the people who have worked at banks or are either working at the bank, can plan their visits accordingly. It is to be noted that people can avail themselves of online banking facilities even on the days when the banks are closed.

How are bank holidays determined?

The Central/State Governments or Union Territory governments determine bank holidays in compliance with the Negotiable Instruments (NI) Act of 1881. Usually, the banks are closed in case of public holidays, Sundays, Certain Saturdays of the month,  and other gazetted holidays apart, from that it is the work of the officials to decide the bank holidays.

On which days are all the banks in India closed?

All the banks in India are closed on the second and fourth Saturdays as well as every Sunday. 

Are all state holidays applicable to all the banks?

No, not all state holidays are applicable to all the banks around India. Usually, the set of rules and specific restrictions in accordance with the different states decides upon the state holidays and for this reason, it might differ from state to state. While certain state holidays might be applicable to all the banks in a particular state at the same time they might not be applicable to the similar branches of the same banks in some other state.