Types of Bank Holidays 2023

Bank holidays are of two types: National Holidays and Government Holidays. India observes three national holidays that include 1) Republic Day 2) Independence Day and 3) Mahatma Gandhi Jayanti. National holidays are also known as Gazetted holidays. Banks and other types of financial institutions remain shut on national holidays.

Government holidays are further classified as state government bank holidays and Central Government bank holidays. State government bank holidays differ amid Indian states whereas Central Government bank holidays are commonly observed across the country. Maharashtra Day is a bank holiday in Maharashtra. Goa Liberation Day is a bank holiday in Goa, while Haryana Day is a bank holiday in Haryana.

Bank Holidays on the Second and Fourth Saturdays

In addition to the aforementioned bank holidays, banks also remain shut on the second and fourth Saturdays of each month. If a month has five Saturdays, the fifth Saturday will be a bank working day. Earlier banks used to work half a day on all Saturdays.

FAQs on Bank Holidays 2023 in India

1. On which days are the banks in India closed?Banks in India are closed on the national holidays, regional state holidays, and on second and fourth Saturdays of every month.
2. How many bank holidays are there in a year?The number of bank holidays may differ from bank to bank and state to state. However, some of the fixed bank holidays that all banks have are the national holidays such as Independence Day and the second and fourth Saturdays of every month.
3. Is New Year’s Day a public holiday for all banks in India?No, New Year’s Day is not a public holiday for all banks in India.
4. Will the banks be closed on a weekday if one of the public holidays fall on a weekend?No, the banks will not be closed on a weekday if one of the public holidays fall on a weekend.
5. Are all state holidays applicable to all the banks?No, all state holidays are not necessarily accepted as bank holiday