Aug 31, 2024 10:56 AM IST
Will banks in India remain open on August 31, as it is the fifth Saturday of the month?
Banks will be open today on Saturday, August 31, 2024, as this is the fifth Saturday of this month.
All banks across India are are closed on the second and fourth Saturdays of each month, and are closed on all Sundays as well as regional or national holidays, as per the Reserve Bank of India (RBI) guidelines.
Also Read: SpiceJet temporarily furloughs 150 cabin crew members amid financial crunch and weak travel season
What are the upcoming bank holidays in September 2024?
In September 2024, banks will be closed for a total of 15 days due to the occasions of Tirubhav Tithi of Srimanta Sankardeva, Ganesh Chaturthi, First Onam, Milad-un-Nabi (Id-e-Milad), Indrajatra, Pang-Lhabsol, the Friday after Eid-i-Milad-ul-Nabi, Sree Narayana Guru Samadhi Day, and the Birthday of Maharaja Hari Singh Ji, with specific closures varying by state.
What about accessibility of banking services?
Though physical banking services may not be available on bank holidays, it is still possible to access your accounts and make transactions through internet banking, SMS banking, and WhatsApp banking services
The RBI designates holidays based on the Negotiable Instruments Act, which covers the formal observance of holidays for financial transactions, and Real-Time Gross Settlement (RTGS) system holidays to ensure such critical banking processes are not disrupted by holidays.
Also Read: India’s GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters