Understanding Bank Holidays in India: In India, banks, including public, private, and rural banks, adhere to specific holiday schedules as outlined by the Reserve Bank of India (RBI). Notably, banks remain closed on the second and fourth Saturdays of each month, along with all Sundays and designated local and national holidays. Tomorrow marks the second Saturday of the month, which means all banks across the country will be closed.
Bank Holiday on Onam: September 14, 2024
The second Saturday in September falls on the 14th, aligning with the festival of Onam in Kerala, leading to a nationwide closure of banks. If this day hadn’t coincided with the second Saturday, banks would still observe the holiday due to Onam celebrations and Karma Puja in Jharkhand. It’s important to note that the RBI designates holidays for specific events, including those related to the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS), and the closure of bank accounts. In 2024, the Government of India has officially declared only three national holidays: Republic Day (26 January), Independence Day (15 August), and Gandhi Jayanti (2 October).
Onam: A Cultural Celebration in Kerala
Onam stands out as the most significant annual harvest and cultural festival in Kerala, regarded as the state’s official festival. It features a variety of cultural activities and celebrations. The timing of Onam is determined by the Panchangam, falling on the 22nd nakshatra, Thiruvonam, in the Chingam month of the Malayalam calendar, which corresponds to late August or early September in the Gregorian calendar.
Bank Holidays in September 2024
In September 2024, banks will observe 15 holidays across different states, celebrating various occasions such as the Disappearance Tithi of Srimanta Sankardeva, Ganesh Chaturthi, First Onam, Milad-un-Nabi (Eid-e-Milad), Indra Jatra, Pang-Lhabsol, and others. Here is the list of bank holidays during this month:
| Date | Holiday | Occasion/State |
|---|---|---|
| 13 September | Ramdev Jayanti / Teja Dashami | Rajasthan |
| 14 September | Second Saturday / Onam | All over India, especially in Kerala |
| 15 September | Sunday / Thiruvonam | All over India, especially in Kerala |
| 16 September | Eid-e-Milad | All over India |
| 17 September | Indra Jatra | Sikkim |
| 18 September | Sree Narayana Guru Jayanti | Kerala |
| 21 September | Sree Narayana Guru Samadhi | Kerala |
| 22 September | Sunday | All over India |
| 23 September | Martyrdom Day of Martyrs | Haryana |
| 28 September | Fourth Saturday | All over India |
| 29 September | Sunday | All over India |
Significance of September Holidays
As evident from the above table, several holidays in September relate to cultural, religious, and regional observances. The festivals reflect India’s diversity and offer bank employees an opportunity to engage in their traditions and festivities. Furthermore, the RBI’s holiday list focuses on maintaining a balance between work and cultural celebrations across various states.
Conclusion
Bank holidays in India play a vital role in preserving cultural and religious practices, allowing citizens time to celebrate significant events. As we approach September 2024, it’s essential to stay informed about the bank holiday schedules to plan financial activities accordingly. Remember that banks will be closed on all Sundays, the second and fourth Saturdays, and additional holidays specific to regional celebrations, so plan ahead to avoid any inconveniences.
