Last Updated: August 25, 2023, 11:35 IST
Raksha Bandhan is one of the most popular Hindu festivals celebrated in India and other parts of the world. Banks in some cities will be closed for Raksha Bandhan 2023 on August 30 and August 31.
The list of cities includes Jaipur, Shimla, Dehradun, Gangtok, Kanpur, Kochi, Lucknow, and Thiruvananthapuram.
Bank holiday on Raksha Bandhan
According to the Reserve Bank of India (RBI) holiday list, the majority of private and public sector institutions in India will be closed on August 30 and August 31 for Raksha Bandhan. Before visiting a bank branch, it is advised to verify the bank’s closure schedule. This will ensure that your banking requirements are met promptly and effectively.
August 30: Raksha Bandhan
Banks will be closed in Srinagar and Jaipur on account of Raksha Bandhan.
August 31: Raksha Bandhan
Banks will be closed in Thiruvananthapuram, Gangtok, Lucknow, Kanpur, Dehradun, and Kochi on account of Raksha Bandhan.
Overall, there are 14 bank holidays in August, depending on the state. These holidays include weekends and various festivals. The banking regulator has notified the holidays for lenders under three brackets — the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks’ Closing of Accounts. All banks including the public sector, private sector, foreign banks, cooperative banks and regional banks across the country will remain closed on these notified holidays.
All the lenders remain closed Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2), Christmas Day (December 25). Banks also remain shut on festivals including Diwali, Christmas, Eid, Guru Nanak Jayanthi, Good Friday.
On the second and fourth Saturdays of every month, the private and public sector banks across the country remain closed. Reserve Bank of India (RBI) has also made it compulsory for banks to remain shut on Sundays.
Most banking transactions, including financial and non-financial, can be done via net banking, mobile banking, or Whatsapp banking. Do make sure you have registered for these services in order to access banking services during this period.
Bank customers must visit the bank holiday list regularly for any new updates and also verify it with the holiday list issued by the Reserve Bank of India on its official website.