India Finance News

Banks closed for 16 days in January: Check list of bank holidays in first month of year 2020

According to the Reserve Bank of India, these holidays may differ from state to state and might also be different in various banks.

In the upcoming month of January, banks in India will remain closed for 16 days, which constitutes ten public holidays and four Sundays along with the second and fourth Saturdays. According to the Reserve Bank of India, these holidays may differ from state to state and might also be different in various banks. While some cities may see only two-three holidays in the month, cities like Mumbai, Delhi, Belapur, Bhopal, Dehradun, Jaipur, Jammu, Lucknow, Raipur, Srinagar, Shimla and Thiruvananthapuram are unlikely to see any closure on public holidays. Customers are advised to plan their bank visits accordingly to avoid any trouble. The banks will be closed on the following dates:

These dates were informed by RBI under the Negotiable Instruments Act.

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Further, for the first quarter of January-March of the year 2020, banks are closed for 27 holidays, other than Sundays and 2nd and 4th Saturdays. India’s banking population doubled from 2011 to reach 80 per cent by 2017, as per the RBI data. Come 2018, around 66 per cent of about 536 million no-frills accounts were Jan Dhan accounts.

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Source: Financial Express

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