Bank Holidays: Banks To Remain Closed For 15 Days In July, Check State-Wise Holiday List

In July 2023, banks in various states will observe a total of 15 days of holidays, which includes all Sundays as well as the second and fourth Saturdays. It’s important to note that bank holidays may vary depending on the state. The RBI regulates most functions of banks and determines their schedules and holidays for the whole year. Bank holidays in India also consist of mandatory holidays set by the banking sector and additional holidays for festivals and special occasions authorised by different states.

Both public sector banks and private sector banks do not work on Sundays and on the second and fourth Saturdays of each month, according to RBI guidelines. Banks also remain closed on public holidays, including regional holidays determined by state governments.

According to the Reserve Bank’s calendarapart from the weekends, there are 8 bank holidays in July. The central government divided the holidays into three categories, under the Negotiable Instruments Act, of 1881.

Bank-related work will not pose any inconvenience to people as essential services like ATMs, cash deposits, online banking, and mobile banking will continue to operate during these holidays.

Additionally, The RBI on May 19 announced the withdrawal of Rs 2000 denomination banknotes from circulation 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 banknotes until September 30, 2023.

To avoid any inconvenience, if you plan to visit a bank for depositing or exchanging Rs 2000 notes, it is advisable to check the holiday list specific to your state before making your visit.