Banks to remain closed for 21 days in October

Chennai: There are up to 21 days in October when banks – both public as well as private – will remain closed as it is a major holiday month with pan India level festivals like Dussehra, Durga Puja and Eid-e-Miladunnabi.

However, banks will not be closed for all 21 days for all states as there are State-specific holidays for different occasions.

On 2 October, banks across the country will remain shut as it will be a gazetted holiday. The other nationwide holiday is Durga Puja/Dasara/Dusshera (Vijaya Dashmi), on 15 October. This holiday will apply to all banks across India, except those located in the geographical location of Imphal and Shimla. Apart from these two days, only the weekend leaves would be uniform and applicable to all banks across India on the same day.

The Reserve Bank of India has categorised holidays under three categories — Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts.

 

NT Bureau