List of Bank Holidays 2023 in India: A Complete Guide

Bank Holidays 2023 in India: Bank holidays are days when banks remain closed for business. In India, bank holidays are declared by the Reserve Bank of India (RBI), the central bank of the country, as well as by the respective state governments. Bank holidays may vary from state to state, depending on the local festivals and customs. However, some bank holidays are observed nationwide, such as Republic Day, Independence Day, Gandhi Jayanti, etc.

Bank holidays are important for both bank employees and customers. Bank employees get a break from their work and can spend time with their families or pursue their hobbies. Customers need to plan their banking transactions in advance and avoid any inconvenience due to the bank closure.

Types of Bank Holidays in India

There are different types of bank holidays in India, based on the reason or occasion for the closure. Some of the common types are:

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• National Holidays: These are the holidays that are observed throughout the country by all banks and other institutions. They are usually related to the national events or festivals of India, such as Republic Day (26 January), Independence Day (15 August), Gandhi Jayanti (2 October), etc.
• Government Holidays: These are the holidays that are declared by the central or state governments for their employees and offices. They may or may not be applicable to banks, depending on the notification issued by the RBI or the state government. They are usually related to the regional events or festivals of India, such as Holi, Diwali, Eid, Christmas, etc.
• Weekly Holidays: These are the holidays that are observed by banks on a weekly basis. They are usually on Sundays and alternate Saturdays. The RBI has prescribed that banks should remain closed on the second and fourth Saturdays of every month. However, some banks may choose to remain open on these days and close on some other days instead.
• RTGS Holidays: These are the holidays that affect the Real Time Gross Settlement (RTGS) system of the RBI. RTGS is a system that enables instant transfer of funds between banks. On RTGS holidays, banks cannot process RTGS transactions, even if they are open for other services.
• Bank Closing Days: These are the days when banks close their accounts for the financial year. They usually fall on 1 April or 31 March every year. On these days, banks do not accept any deposits or withdrawals from customers.

List of Major Bank Holidays in 2023

Below are some of the key bank holidays for the year 2023 in India:

1. National Holidays
   • January 26, Thursday: Republic Day
   • August 15, Tuesday: Independence Day
   • October 2, Monday: Gandhi Jayanti
2. Religious and Cultural Holidays
   • April 22, Saturday: Ram Navami
   • November 13, Monday: Diwali
   • December 25, Monday: Christmas
3. State-specific Holidays (Examples)
   • January 14, Saturday: Pongal (Tamil Nadu)
   • September 8, Friday: Onam (Kerala)

Note: The above list is illustrative and not exhaustive. Each state may have its own set of bank holidays based on regional festivals and events.

Bank Holiday List 2023

Bank Holidays List on the Second and Fourth Saturdays

One of the types of bank holidays in India is the weekly holiday on the second and fourth Saturdays of every month. This means that banks remain closed on these days and do not offer any services to customers. The RBI has prescribed this rule for banks since 2015, to provide a uniform pattern of holidays for bank employees and customers across the country. However, some banks may choose to remain open on these days and close on some other days instead, depending on their convenience and customer demand. Therefore, it is advisable to check with your bank before planning any banking transaction on these days.

Brief Description of Bank Holidays in india 2023

Sure, here’s a brief description of the bank holidays in India for 2023:

1. Second Saturday (Multiple Dates): India’s banks observe the second and fourth Saturdays of each month as holidays. This system has been in place to provide bank employees with regular extended weekends and manage their work-life balance.
2. Fourth Saturday (Multiple Dates): Like the second Saturday, the fourth Saturday of every month is a bank holiday throughout India.
3. Republic Day (26 January 2023, Thursday): Celebrated annually on January 26, Republic Day marks the day when the Constitution of India came into effect in 1950. It’s a national holiday, and patriotic ceremonies and parades take place across the country.
4. Holi (8 March 2023, Wednesday): Known as the Festival of Colors, Holi celebrates the victory of good over evil. It’s observed with great enthusiasm, with people smearing each other with colored powders and drenching each other with water balloons and water guns.
5. Ram Navami (30 March 2023, Thursday): This Hindu festival celebrates the birth of Lord Rama. Devotees observe this day with fasting, singing devotional songs, and visiting temples.
6. Mahavir Jayanti (4 April 2023, Tuesday): An important festival for the Jain community, this day celebrates the birth of Lord Mahavir, the 24th Tirthankara.
7. Good Friday (7 April 2023, Friday): Observed by Christians worldwide, Good Friday commemorates the crucifixion of Jesus Christ and his death at Calvary.
8. Dr Ambedkar Jayanti (14 April 2023, Friday): This day marks the birthday of Dr. B.R. Ambedkar, the chief architect of the Indian Constitution. It’s observed across the country with various events and remembrances.
9. Id-ul-Fitr (22 April 2023, Saturday): A significant festival for Muslims, it marks the end of Ramadan, the holy month of fasting. The day is celebrated with feasts and the giving of gifts.
10. May Day/Labour Day (1 May 2023, Monday): Observed worldwide, this day celebrates workers and their contributions. It’s a day to honor the labor movement and the works of trade and labor organizations.
11. Buddha Purnima (5 May 2023, Friday): This day celebrates the birth, enlightenment, and death of Gautama Buddha. It’s a significant festival for Buddhists and is observed with prayer, meditation, and processions.
12. Bakrid/Id-ul-Zuha (29 June 2023, Thursday): An important Islamic festival, it commemorates the willingness of Ibrahim to sacrifice his son as an act of obedience to God. It’s marked by the sacrifice of an animal, feasts, and the giving of gifts.
13. Independence Day (15 August 2023, Tuesday): Celebrated annually on August 15, this national holiday marks India’s independence from British rule in 1947.
14. Janmashtami (Vaishnva) (7 September 2023, Thursday): This Hindu festival celebrates the birth of Lord Krishna. Devotees fast and hold vigils until midnight when Krishna is believed to have been born.
15. Milad-un-Nabi or Id-e-Milad (28 September 2023, Thursday): Celebrating the birth of Prophet Muhammad, this is an essential festival for Muslims. Processions, feasts, and prayers characterize the day.
16. Mahatma Gandhi’s Birthday (2 October 2023, Monday): Commemorating the birth of Mahatma Gandhi, the father of the nation, this day is observed with prayer services, commemorative ceremonies, and art displays across the country.
17. Dussehra (24 October 2023, Tuesday): This Hindu festival marks the victory of Lord Rama over the demon king Ravana. It represents the victory of good over evil.
18. Guru Nanak’s Birthday (27 November 2023, Monday): Celebrated by the Sikh community, this day marks the birth of Guru Nanak, the first Sikh Guru. Gurdwaras are illuminated, and grand processions are held.
19. Christmas Day (25 December 2023, Monday): Celebrated by Christians worldwide, Christmas marks the birth of Jesus Christ. In India, churches are beautifully decorated, and special services are held.

FAQ: Bank Holidays 2023 in India