Bank Holidays October 2024: Are Banks Closed Today And Why? Check City-Wise List

Bank Holidays October 2024: Indian banks are likely to be closed on October 17, due to the occasion of Maharshi Valmiki Jayanti/Kati Bihu. However, this is a state-wise holiday, and hence chances are that not all banks in India will be closed. It is important that you check the list of cities where banks are opened and closed on Thursday, if you are planning to visit your bank's branch for financial transactions.

October 17:

Banks will be closed on Thursday, due to Maharshi Valmiki Jayanti/Kati Bihu. However, this is a bank holiday in cities like Bengaluru, Guwahati, and Shimla today.

That being said, banks will be opened in cities like Agartala, Ahmedabad, Aizawl, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Andhra Pradesh, Telangana, Imphal, Itanagar, Jaipur, Jammu, Kanpur, Kochi, Kohima, Lucknow, Kolkata, Mumbai, Nagpur, New Delhi, Panaji, Patna, Raipur, Ranchi, Shillong, Srinagar, and Thiruvananthapuram.

Pargat Diwas, or Valmiki Jayanti, is an annual Indian festival celebrated in particular by the Balmiki religious group, to commemorate the birth of the ancient Indian poet and philosopher Valmiki, who is thought to have lived around 500 BCE. The festival date is determined by the Indian lunar calendar, and falls on the full moon (Purnima) of the month of Ashwin, typically in late September or early October, the Wikipedia stated.

Hence, remember these cities where banks are opened or closed on Thursday,

RBI's holidays are divided into three categories such as -- Holiday under the Negotiable Instruments Act; Holiday under the Negotiable Instruments Act and Real Time Gross Settlement Holidays; and Banks' Closing of Accounts. Bank holidays in India 2024, vary from state-to-state and city-to-city.

Bank holidays in India 2024, vary from state to state and city-to-city, though there are numerous Public Holidays in the year 2024 which are applicable throughout the country.

Also, Banks are closed on the second and fourth Saturdays of every month in addition to the above-mentioned bank holidays. The fifth Saturday of a month with five Saturdays is a working day for banks. In the past, banks would only open for a half-day on Saturdays.

India is a multi-cultural and very diverse country and also has many national and other bank holidays. A bank holiday in India is generally considered as a public holiday when banks and other financial institutions remain closed. While not all public holidays are classified as Bank Holidays as it varies with state and region.