New Delhi: While the month of August is nearly ending, bank holiday on the occassion of Rakshabandhan has stirred quite a bit of confusion among netizens. As per the Reserve Bank of India (RBI) Holiday list, bank will be closed due to Rakshabandhan in several cities across the country –however the dates are different in different cities.
Meanwhile, there’s no need to worry about accessing your banking needs. Despite the branch closures, online banking activities will continue to function seamlessly, allowing you to conduct transactions, check your balances, and carry out other essential banking tasks from the comfort of your home or on the go.
As per the Reserve Bank of India (RBI) holiday calendar list banks will be closed for Rakshabandhan in Jaipur and Shimla on August 30 while for the occassion and two other festivals –Sree Narayana Guru Jayanthi/Pang-Lhabsol –banks will be closed on August 31 in other cities like Dehradun, Gangtok, Kanpur, Kochi, Lucknow and Thiruvananthapuram.
Reserve Bank of India places its Holidays under three brackets –Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks’ Closing of Accounts. However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.
Holidays of the mentioned days will be observed in various regions according to the state declared holidays, however for the gazetted holidays, banks will be closed all over the country.