BackBank Holiday Today: Banks to remain closed in THESE cities on Diwali Balipratipada
Bank Holiday Today: Banks will be closed in various Indian cities today, November 14, for Diwali and other festivities. Online banking services will still be available.
PremiumBanks will remain closed in various Indian cities today, November 14, owing to Diwali and other festivities. Physical bank branches will be inaccessible, however, online banking services will function seamlessly. The customers can conduct e-transactions, check balances, and manage other essential activities.
It is pertinent to note that banks will not be closed in all states across the country on Tuesday. As per the official Reserve Bank of India (RBI) list of holidays for November 2023, banks will remain closed in Gujarat, Maharashtra, Karnataka, and Sikkim for Diwali (Bali Pratipada) today.
On Wednesday (November 15), the financial institutions will be closed in Sikkim, Manipur, Uttar Pradesh, Bengal, and Himachal Pradesh on the occasion of Bhai Dooj/Chitragupt Jayanti/Laxmi Puja (Deepawali)/Ningol Chakkouba/Bhratridwitiya.
According to the Reserve Bank of India, the three kinds of bank holidays in the country: Holidays under the Negotiable Instruments Act, holidays under the Negotiable Instruments Act Real Time Gross Settlement Holidays, and Banks’ Closing of Accounts.
In total, banks are closed for 15 days in November as per the Reserve Bank of India's (RBI) calendar of holidays.
These holidays include the regular ones such as the second and fourth Saturdays and Sundays. But going by the RBI's calendar, nine holidays are either festive or gazetted. Some bank holidays are regional and may differ from state to state and bank to bank.
Also Read: Indian stock market to remain closed today
Meanwhile, the Indian stock market will also remain closed today, November 14, 2023, on account of Diwali Balipratipada. There will be no trading in the equity segment, equity derivatives segment, and SLB segment. The currency derivatives market is also shut for trading today.
In the commodity segment, trading at the Multi Commodity Exchange (MCX) will remain closed in the first half on Tuesday, and will resume in the second half at around 5 p.m. (evening session). Trading in the currency derivatives segment and interest rate derivatives segment will remain suspended during the day.
Balipratipada or Bali Padyami is celebrated on the fourth day of Diwali. It is the first day of the bright lunar fortnight in the Hindu month of Kartika. The day commemorates Lord Vishnu's triumph against the demon-king Bali in the Vamana Avatar, as well as the demon-return king to the world.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
