Every month, banks observe holidays in accordance with a list issued by the Reserve Bank of India (RBI).
Banks in some cities will not function on four days next week due to regional festivals, fourth Saturday and Sunday. Every month, banks observe holidays in accordance with a list issued by the Reserve Bank of India (RBI), which decides holidays for lenders under three categories: Holiday Under Negotiable Instruments Act, Holiday Under Negotiable Instruments Act and Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts.
It is to be noted that during regional festivals, banks stay closed in that particular region only, while second/fourth Saturday and Sunday are common holidays for these financial institutions. Occasions such as Republic Day (January 26), Independence Day (August 15), Gandhi Jayanti (October 2) and Christmas Day (December 25) are common holidays as well.
Banks will not open on the following days next week in the following cities:
November 22: Kanakdasa Jayanthi (Bengaluru)
November 23: Seng Kutsnem (Shillong)
November 27: Fourth Saturday (all banks)
November 28: Sunday (all banks)
In the current week, banks were closed on Friday due to Guru Nanak Jayanti and will not open on Sunday. Overall, due to November being a festive month, its holiday list stood at 17. Of these, festivals, including Diwali and Chhath Puja, accounted for 11 days, while the remaining six were second and fourth Saturdays, and Sundays.