Mumbai: Banks in India will be closed for 15 days in October. The Reserve Bank of India releases an annual list of bank holidays, which includes both national and regional observances.
The central bank compiles this list based on various factors such as national and state holidays, cultural and religious events, operational requirements, government announcements, and coordination with other banks. Additionally, banks are closed on Sundays and the second and fourth Saturdays of each month.
Bank holidays are notified under 3 categories- Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks’ Closing of Accounts. The regional holidays are decided by the respective state governments.
National holidays are days when all banks across the country are closed. In contrast, regional holidays apply only to specific states or regions, meaning that only banks in those areas will be closed. Therefore, a bank holiday in one state does not necessarily affect banks in other states.
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Bank Holidays October 2024:
October 1: Holiday due to assembly elections in Jammu and Kashmir.
October 02: Mahatma Gandhi Jayanti/Mahalaya Amavasya
October 03: Shardiya Navratri and Maharaja Agrasen Jayanti.
October 06: Weekly holiday (Sunday).
October 10: Maha Saptami/Durga Puja/Dussehra
October 11: Dussehra (Mahashtami/Mahanavami)/Ayudha Pooja/Durga Puja (Dasain)/Durga Ashtami
October 12: Dasara/Dussehra (Mahanavami/Vijayadashami)/Durga Puja (Dasain) and the second Saturday.
October 13: Weekly holiday (Sunday).
October 14: Durga Puja (Dasain) and Dussehra in Gangtok.
October 16: Lakshmi Puja (Agartala, Kolkata).
October 17: Maharshi Valmiki Jayanti/Kati Bihu
October 20- Sunday
October 26: Accession Day (Jammu and Kashmir) and Fourth Saturday.
October 27: Weekly holiday (Sunday).
October 31: Diwali (Deepavali)/Kali Puja/Sardar Vallabhbhai Patel’s Birthday/Naraka Chaturdashi
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