Financial institution holidays on Republic Day 2024 weekend: Is it a three-day vacation weekend for banks? Know particulars right here | India Enterprise Information

Financial institution holidays on Republic Day 2024 weekend: Because the week unfolds, banks are getting ready for a three-day weekend, with closures scheduled ranging from Friday, i.e., January 26, 27, and 28. The month of January 2024 brings a complete of 16 holidays for banks, together with the second and fourth Saturdays, Sundays, and numerous regional holidays.
The Reserve Financial institution of India (RBI) is the authority chargeable for releasing the listing of financial institution holidays. This compilation relies on a number of elements reminiscent of nationwide/state holidays, cultural or spiritual observances, operational necessities, authorities bulletins, and coordination with different banks.

Listed below are the important thing dates when banks will stay closed this week:

January 23 (Tuesday): Gaan-Ngai
Banks are closed in Manipur because of the Gaan-Ngai competition.
January 25 (Thursday): Thai Poosam/Birthday of Md. Hazarat Ali
Tamil Nadu, Maharashtra, and Uttar Pradesh will observe financial institution closures on at the present time.
January 26 (Friday): Republic Day
In observance of Republic Day, banks will likely be closed throughout India. This 12 months, the vacation falls on a Friday, creating an prolonged weekend as it’s adopted by the common fourth Saturday and Sundays.
January 27 (Fourth Saturday): Weekend Closure
January 28 (Sunday): Weekend Closure
Moreover, there was a half day engaged on January 22, as per an order issued by the Ministry of Finance on January 18. Public sector banks (PSBs) and regional rural banks noticed a half-day off for the Ram temple consecration ceremony in Ayodhya.
On January 22, banks in some states and cities like Imphal, Kanpur, Lucknow, and Panaji had been closed because of the consecration ceremony of Lord Shri Ram within the temple constructed within the Shri Ram Janmabhoomi advanced/Imoinu Iratpa, as per the RBI vacation calendar. Notably, these closures are acknowledged as holidays beneath the Negotiable Devices Act.
Non-public financial institution branches in Uttar Pradesh, together with main lenders reminiscent of HDFC Financial institution and Axis Financial institution, had been additionally closed on January 22, 2024. HDFC Financial institution noticed a full-day closure in UP and Uttarakhand, whereas Axis Financial institution remained closed for all the day in Uttar Pradesh.