Banks are normally closed on public holidays in India. However, there are some dedicated bank holidays in states of India you must know. Let’s discuss here the list of bank holidays 2023.
Banks in India are closed on major public holidays like Independence Day, Republic Day, Gandhi Jayanti and festivals such as Good Friday, Guru Nanak Jayanti, Deepawali, Eid-al-Fitr, Christmas etc. Further, banks in India are also closed on second and fourth Saturday of the month. We are discussing here the list of bank holidays in India in 2023.
Types of Bank Holidays in India
Bank holidays are categorized into two sections- Government Holidays and National Holidays. There are three major national holidays in India including Independence Day, Republic Day, and Gandhi Jayanti. National holidays are otherwise known as Gazetted holidays. Banks along with other financial institutions are shut on these days.
Government holidays are further categorized as Central Government bank holidays and state government bank holidays. Banks in all states are closed on central government bank holidays, however, there are few holidays which are state-specific, which means a holiday which is observed in one state is not necessarily observed in other states. Let us understand it by an example- Haryana Day is an exclusive bank holiday in Haryana state and similarly, Goa Liberation Day is observed as a bank holiday in Goa only.
List of Bank Holidays 2023 in India
Note: All banks and financial institutions in New Delhi remains close from 8th to 10th September 2023 (Reason- G20 Summit).
Please find the list of state-wise bank holidays 2023:
Note: We request readers to keep checking this article for all latest updates. Knowing bank holidays 2023 help you to plan your bank visits or other bank-associated works.
RTGS Holidays 2023
RTGS is otherwise known as Real Time Gross Settlement which let people transfer money from one bank account to other. The Reserve Bank of India is the concerned authority who maintains and regulates RTGS service. We have highlighted below the RTGS holidays in 2023 which you can confirm at RBI website after the release of its respective notification.
|Important Days & Dates||Observance|
|26th January||Republic Day|
|7th April||Good Friday|
|22nd April||Ramzan Id (Id-al-Fitr)|
|15th August||Independence Day|
|2nd October||Gandhi Jayanti|
Note: The information furnished in the table is for reference purpose only and will be updated after the release of its respective notification by RBI.
If you transfer money through RTGS on a bank holiday then the sender may get the payment receipt on the following bank working day.
Banks are Closed on Second and Fourth Saturdays
Along with the aforesaid bank holidays in India, banks will also remain close on second and fourth Saturday of the month. Earlier, banks used to work till half day on Saturdays but now it’s a bank holiday. However, banks will work on first and third Saturdays. If a month has five Saturdays then bank will remain open on fifth Saturday.
List of Major Bank Holidays this year
Maha Shivaratri: Maha Shivaratri is observed as a bank holiday in almost all states of India. This festival is celebrated yearly where God Shiva is worshipped.
Republic Day: Republic day is celebrated on 26 January every year and is a bank holiday in India. Along with banks, government offices also remain shuts on this day.
Holi: Holi is a festival of color which is celebrated across the country with great enthusiasm. Banks are closed on this day.
Ugadi: Ugadi is celebrated primarily in the state of Andhra Pradesh, Karnataka and Telangana. This festival is also known as Gudi Padwa in Maharashtra.
Ambedkar Jayanti: Ambedkar Jayanti is observed as a bank holiday in several states. This day is dedicated to the birth of Dr. B R Ambedkar who created the Constitution of India.
Good Friday: Good Friday is a bank holiday which is observed in many states of the state.
Bakrid/Eid al Adha: Bakrid/Eid al Adha is renowned Islamic festival and hence banks are closed on this day.
Independence Day: Independence Day is bank holiday in India which is observed on 15 August every year.
Gandhi Jayanti: Gandhi Jayanti is observed as a national festival on 2nd October and banks are closed on this day.
Frequently Asked Questions
Answer: Banks in India are usually closed on public holidays, second and fourth Saturdays and regional state holidays.
Answer: No, New Year’s day is not a compulsory holiday for all states in India.
Answer: No, it differs from one state to another. There are some central bank holidays which are common and also some state-specific holidays are observed.
Answer: Banks are closed on second and fourth Saturdays of the month.