According to the RBI bank holiday list, banks countrywide in India would stay shut this Saturday, July 12.
The bank holiday planned for July 12 was the second Saturday of the month. The Reserve Bank of India bank holiday calendar (RBI) gives the list of days on which the banks in India can remain closed as second and the fourth Saturday and all Sundays of a month. Banks tend to close off on weekends, but on the first, third and the fifth Saturday.
Nevertheless, it should be remembered that physically located branches of banks close on bank holidays. Online banking as well as ATM services keep their services available without any trouble, even in bank holidays.
Which are the common bank holidays?
As stated above, all the banking organizations in India are closed on the second and fourth Saturdays in the month following the RBI bank holiday calendar. Besides this there are bank holidays, which are on each Sunday.
Weekends are the only times that the banking institutions are closed with exception of the first, third and fifth Saturdays.
The bank holidays are divided in three sections by the RBI which are Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and accounts closure of banks.
As per the Negotiable Instruments Act, bank holidays are fronted under the national, regional and religious holidays as per the state of inhabitation.
Hence, Bank holidays in different states are different except national holidays and weekends.
Bank holidays in future
The following bank holiday will be on Sunday, July 13.
However, the question that is going round the minds of the people is whether the banks will be closed on July 14?
Since the week starting July 14, five bank holidays are recorded in different states, July 14, July 16, July 17, July 19 and July 20.
The second bank holiday because of a festival is July 14 where banks in Meghalaya will be closed because of Beh Deinkham.
Bank holidays in July — Region-wise list
July 3 (Thursday) - Kharchi Puja: Banks will be closed in Agartala
July 5 (Saturday) - Guru Hargobind Ji’s Birthday: Banks will be closed in Jammu and Srinagar
July 14 (Monday) - Beh Deinkhlam: Banks will be closed in Shillong for Beh Deinkhlam
July 16 (Wednesday) - Harela: Banks in Dehradun will be closed for Harela
July 17 (Thursday) - Death Anniversary of U Tirot Singh: Banks will remain shut in Shillong
July 19 (Saturday) - Ker Puja: Banks in Agartala will be closed for Ker Puja
July 28 (Monday) - Drukpa Tshe-zi: Banks in Gangtok will be closed