The Reserve Bank of India (RBI) yearly releases an inventory of financial institution holidays, together with gazette public holidays and notable festivals. However, this record doesn’t embody state-wise holidays, which can differ relying on regional festivals and events.
Regarding Monday, February 19, 2024, there may be ambiguity relating to financial institution closures. While banks throughout Maharashtra will stay closed as a result of observance of Chhatrapati Shivaji Maharaj Jayanti, banks in all different states will function usually on that day.
Chhatrapati Shivaji Maharaj Jayanti, also called Shiv Jayanti, is widely known in Maharashtra and is recognised as a public vacation. It marks the start anniversary of Chhatrapati Shivaji Maharaj, the Maratha warrior king, and is noticed yearly on February 19.
In February 2024, banks might be closed for a complete of three days, together with February 19. Besides Maharashtra’s closure on February 19, banks within the state will even be closed on February 20 and 26.
The Reserve Bank of India categorises financial institution holidays into three essential teams: holidays underneath the Negotiable Instruments Act, holidays underneath the Negotiable Instruments Act and Real-Time Gross Settlement Holiday, and checking account closing days.
Additionally, in March 2024, there are two notable financial institution holidays throughout which banks will stay closed in a number of states. On March 8 (Monday), banks might be closed for Mahashivratri, and on March 25 (Monday), they are going to be closed for Holi.
Holi falls on Monday following the fourth Saturday of the month and Sunday, leading to banks being closed for three consecutive days throughout that week.
(With PTI inputs)
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