In September 2023, a total of 16 bank holidays will occur, including the second and fourth Saturdays as well as Sundays.
The Reserve Bank of India (RBI) guidelines dictate the closure of banks on all public holidays, along with certain regional holidays dependent on individual state decisions.
The month of September is set to observe these holidays, commencing with Sri Krishna Janmashtami on September 6th, followed by Eid-E-Milad on September 28th, which are applicable to all banks in India except certain states.
Indian banks, both in the public and private sectors, adhere to regulations set by the RBI. They do not operate on Sundays and the second and fourth Saturdays. While bank holidays vary across states, the frequency of closures is not high, ensuring minimal disruption to banking services such as ATMs, cash deposits, online banking, and mobile banking. These holidays are scheduled in consideration of local festivals.
Bank closures also encompass regional holidays, determined by respective state governments, and are not explicitly listed on the RBI’s official website. As per the RBI’s guidelines, Sundays and the second and fourth Saturdays are designated as non-working days. Specific dates for bank closures in September, outlined by the Negotiable Instruments Act, include September 06, 07, 18, 19, 20, 22, 23, 25, 27, 28, and 29. Additionally, there are four Sundays on September 03, 10, 17, and 24, along with the second and fourth Saturdays on September 09 and 23.
As per the Reserve Bank’s calendar, September features a total of 11 bank holidays, categorized under the Negotiable Instruments Act of 1881, aside from weekends.
