The RBI regulates most of the operations of the banks and sets their schedules and holidays for the whole year. Bank holidays in India also include mandatory holidays prescribed by the banking sector and additional holidays for festivals and special occasions authorized by various states.
In July 2023, banks in various states will have a total of 15 holiday days, including all Sundays as well as second and fourth Saturdays. It is important to note that bank holidays may vary depending on the state.
The RBI regulates most of the operations of the banks and sets their schedules and holidays for the whole year. Bank holidays in India also include mandatory holidays prescribed by the banking sector and additional holidays for festivals and special occasions authorized by various states.
As per RBI guidelines, both public sector banks and private sector banks do not work on Sundays and second and fourth Saturdays of every month. Banks are also closed on public holidays including regional holidays as prescribed by the State Governments.
There are 15 bank holidays in July, starting with Guru Hargobind Jayanti on 05 July and ending with Muharram on 29 July. These holidays apply to all banks in India, except in a few states. Those who are planning to visit the bank next month for some important work, they should check the list of holidays and plan their work well in advance.
State wise list of bank holidays
05 July 2023- Wednesday – Guru Hargobind Singh Jayanti – J&K
6 July 2023 – Thursday – MHIP Day – Mizoram
8 July 2023 – Saturday – Second Saturday – All States
11 July 2023 – Thursday – Ker Puja – Tripura
13 July 2023 – Thursday – Bhanu Jayanti – Sikkim
July 17, 2023 – Monday – U Tirot Sing Day – Meghalaya
July 22, 2023 – Saturday – Fourth Saturday – in all states
July 29, 2023 – Saturday – Muharram – in almost all states
July 31, 2023 – Monday – Martyrdom Day – Haryana and Punjab
According to the Reserve Bank’s calendar, there are 8 bank holidays in July apart from weekends. The central government divided holidays into three categories under the Negotiable Instruments Act of 1881. People will not face any inconvenience in bank related work as essential services like ATMs, cash deposits, online banking and mobile banking will remain operational during these holidays.
Additionally, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation on 19 May as part of its “Clean Note Policy”. However, these notes will continue to be legal tender. All banks are providing deposit and/or exchange facility for Rs 2000 notes till September 30, 2023.
To avoid any inconvenience, if you are planning to visit a bank to deposit or exchange Rs 2000 notes, it is advised to check the specific holiday list for your state before making your journey. Get it checked.
