Bank holidays next week: Banks will be closed for at least two days next week due to occasions like Republic Day, which is a national holiday. The Republic Day bank holiday has led to the confusion if banks across India will be closed on the day.
To answer the question, it must be said that banks across India will be closed on 26 January, Monday, on Republic Day. This is because Republic Day is a national holiday and banks are closed across the country on national holidays.
Bank holidays may differ from region to region depending on the festival or other important events. They are determined by the Reserve Bank of India, which shares the dates in the RBI bank holiday calendar.
On national holidays like Independence Day, Gandhi Jayanti and Republic day, a bank holiday is observed across the nation.
There were up to 16 bank holidays in January, most of which have been used up already. The 16 bank holidays this month includes weekends. The Republic Day bank holiday is the only national holiday in the January holiday calendar of the RBI.
Bank holiday on 26 January
Banks will be closed across all states and Union Territories of India due to Republic Day. All private and public sector banks will remain closed on Republic Day as this is a national holiday. This means there have been three consecutive bank holidays on 24, 25 and 26 January due to the long weekend.
What is Republic Day?
India will celebrate its 77th Republic Day on 26 January, Monday. On this day, people across India commemorate the adoption of the Constitution of India, which occurred on January 26, 1950.
Celebrations across the country, including nationwide parades and flag hoisting ceremonies are common on Republic Day.
Is there a bank holiday on 27 January?
Public sector bank operations may be disrupted in some parts of India as bank employee unions have decided to go on a nationwide strike on the day to demand a five-day work week.
Most of the public sector banks have already informed their customers about the disruption in banking services if the strike materialises, as per a report by PTI.
Currently, bank employees get the second and fourth Saturdays off each month, apart from Sundays. The strike may not impact functioning at branches of big private sector banks like HDFC Bank, ICICI Bank and Kotak Mahindra Bank.
Apart from these two days, banks across India will be closed on 1 February as it is a Sunday.
It must be noted that only physical branches of banks will remain closed on these bank holidays. You will always be able to access internet banking/ATMs/UPI services, and others.
