Bank Holidays in October 2023: 16 non-functional days for banks due to a combination of festivals, Sundays, and second/fourth Saturdays.
In October, there will be a total of 16 non-functional days for banks due to a combination of festivals, Sundays, and second/fourth Saturdays. These bank holidays are officially designated by the Reserve Bank of India (RBI) and are categorized as either ‘national’ (resulting in the closure of all branches) or ‘regional’ (pertaining to state-specific festivals).
Additionally, on Sundays and second/fourth Saturdays, bank branches across the country remain closed.
However, individuals are unlikely to encounter any issue in their banking-related tasks during October, as the holidays are not frequent or closely spaced. Services like ATMs, cash deposits, online banking, and mobile banking will remain operational. The holidays in October differ from state to state, aligning with local festivals and cultural observances.
In October, banks will be closed on all public holidays, with some additional regional holidays depending on the specific state. Regional holidays are determined by the respective state governments and may not be listed on the RBI’s official website.
As per RBI guidelines, banks observe closures on Sundays and also on the second and fourth Saturdays of the month. In accordance with the Negotiable Instruments Act, the RBI has designated bank holidays on the following dates in October: 02, 18, 21, 23, 24, 25, 26, 27, and 31.
Additionally, there are four Sundays in October, occurring on the 01, 08, 15, 22, and 29, as well as the second and fourth Saturdays on October 14 and 28.
The Reserve Bank’s calendar indicates a total of 09 bank holidays in October, categorized under the Negotiable Instruments Act of 1881 by the central government.
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