Bank Holiday today: Are banks closed for Janmashtami 2024 on August 26? Check all details here

Bank Holiday today: Are banks closed today, on August 26, on occasion of Janmashtami or Krishna Janmabhoomi? Yes, in many Indian states.

Janmashtami 2024 is a bank holiday in states including Gujarat, Orissa, Chandigarh, Tamil Nadu, Uttarakhand, Sikkim, Andhra Pradesh, Telangana, Rajasthan, Jammu, Uttar Pradesh, West Bengal, Bihar, Chhattisgarh, Jharkhand, Meghalaya, Himachal Pradesh, and Srinagar.

However, banks will remain open in states like Tripura, Mizoram, Maharashtra, Karnataka, Assam, Manipur, Arunachal Pradesh, Kerala, Nagaland, New Delhi, and Goa.

Janmashtami 2024 Holiday

Janmashtami, is a significant Hindu festival celebrating the birth of Lord Krishna. It is also known as Krishna Janmabhoomi by those who celebrate. As a result, banks and many businesses may remain closed on this day as well.

Notably, in states the Monday holiday for Janmashtami this year, meant this was a long weekend off for bank staff and customers. The weekend began with the fourth Saturday bank holiday on August 24, followed by Sunday off on August 25, and Monday non-working due to Janmashtami on August 26 (today).

Customers should know that bank holidays vary by state based on regional requirements. To avoid last-minute confusion and handle emergencies effectively, it is advisable to check the complete list of holidays with your nearest bank branch.

Bank Holidays in August 2024

Apart from festivals and national holidays, the year will also have a total of two Saturdays and four Sundays off, besides regional and religious festivities.

Customers should note that non-working days for banks differs from state to state in India, and it is prudent to check with your local bank branch for their holiday list before to keep informed.

August 2024 has at least nine listed non-working days (including weekend leaves). Notably, there is also a long weekend at the months-end, so plan your bank visits accordingly. Here is the full list (public and private banks) to see:

• August 26: Most states will see their banks closed on this day for the festival of Krishna Janmabhoomi.
• Past holidays this month: August 4 (Sunday), August 10 (second Saturday), August 11 (Sunday), August 15 (Independence Day / Parsi New Year), August 18 (Sunday), August 19 (Rakhi / Raksha Bandhan), August 24 (second Saturday), August 25 (Sunday).

For cash emergencies, all banks operate their online websites and mobile banking services apps regardless of weekend or other leaves — unless notified to users for particular reasons. You can also access any bank's ATMs for cash withdrawals.

Types of Bank Holidays

The Reserve Bank of India (RBI) and state governments create a list of holidays for banks, taking into account national and local occasions, operational requirements, religious celebrations and other cultural observances. The central bank makes the announcement through its official website and notifications to banks and other financial institutions.

In India, the RBI oversees the determination of bank holidays, which are categorized as follows:

• Negotiable Instruments Act Holidays: These are days when regulations affecting negotiable instruments, such as checks and promissory notes, are in effect. Certain banking transactions involving these instruments may not be available these days.
• Real-Time Gross Settlement (RTGS) Holidays: These refer to days when banks are closed for RTGS transactions, which facilitate instant money transfers between banks.
• Account Closing Days: Each bank designates specific days for internal operations, including account reconciliation or annual closings. On these days, banks may be closed for these purposes.