Mumbai: Banks in the country will observe 13 closures in November 2024 due to a mix of national and regional holidays. Closures will occur for events including Diwali Amavasya (Laxmi Pujan), Kut Festival, Kannada Rajyotsava, Balipadyami, Vikram Samvat New Year, Chhath and Wangala Festival, among others.
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. All scheduled and non-scheduled banks will remain closed on the second and fourth Saturdays of each month in observance of public holidays.
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.
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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.
November 2024 Bank Holidays;
November 1: Diwali Amavasya
November 2: Diwali (Bali Pratipada)
November 3: Sunday
November 7: Chhath
November 8: Chhath
November 9: Second Saturday
November 10: Sunday
November 12: Egas-Bagwal
November 15: Guru Nanak Jayanti
November 17: Sunday
November 18: Kanakadasa Jayanti
November 23: Seng Kutsnem, Fourth Saturday
November 24: Sunday
From November 1-3, banks in Karnataka and Maharashtra will be closed for four consecutive days, while banks in Uttarakhand and Sikkim will have a three-day closure, followed by Sunday. On November 23, banks in Meghalaya will also be closed.
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