Bank Holidays in October 2021: Banks to remain closed for 5 days

 RBI has announced three bank holidays: the Negotiable Instruments Act Holiday, Real Time Gross Settlement Holiday, and Banks' Closing of Accounts. On these specified holidays, all banks in the country, including the public sector, private sector, foreign banks, cooperative banks, and regional banks, will be closed.

New Delhi: This week, public and private banks across the country will be closed on five of the seven days. Lenders close for at least 21 days in October to observe several holidays throughout the month, including Durga Puja, Navratri, and Dussehra. If you plan on visiting a bank branch this week, you should be aware of these holidays to avoid any inconveniences.

The Reserve Bank of India has announced three bank holidays: the Negotiable Instruments Act Holiday, Real Time Gross Settlement Holiday, and Banks' Closing of Accounts. On these specified holidays, all banks in the country, including the public sector, private sector, foreign banks, cooperative banks, and regional banks, will be closed.

All banks are closed on Republic Day (January 26), Independence Day (August 15), Gandhi Jayanti (October 2), and Christmas Day, according to the RBI list (December 25). Banks are also closed on holidays like Diwali, Christmas, Eid, Guru Nanak Jayanthi, and Good Friday. The private and public sector banks across the country are closed on the second and fourth Saturdays of each month. The Reserve Bank of India (RBI) has also mandated that banks remain closed on Sundays

It should be noted, however, that bank holidays differ from one state to the next. In your state, bank holidays may not be observed on all days. As a result, bank customers are typically recommended to contact their local branch to obtain a complete list of bank holidays

Check the full list of bank holidays in October:

1) October 19 – Id-E-Milad/Eid-e-Miladunnabi/Milad-i-Sherif (Prophet Mohammad’s Birthday)/Baravafat / (Ahmedabad, Belapur, Bhopal, Chennai, Dehradun, Hyderabad, Imphal, Jammu, Kanpur, Kochi, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Srinagar, Thiruvananthapuram)

2) October 20 – Maharishi Valmiki’s Birthday/Lakshmi Puja/Id-E-Milad (Agartala, Bengaluru, Chandigarh, Kolkata, Shimla)

3) October 22 – Friday following Eid-i-Milad-ul-Nabi (Jammu, Srinagar)

4) October 23 – 4th Saturday

5) October 24 – Sunday

6) October 26 – Accession Day (Jammu, Srinagar)

7) October 31 - Sunday

So, if you have any bank-related work pending or need to withdraw cash ahead of the holiday season, you should contact your nearest branch as soon as possible because banks will be closed due to a long string of bank holidays beginning on October 19. During the above-mentioned bank holidays, however, ATMs will operate normally.