Bank Holidays 2023 in India – List of Bank Holidays

India is a diverse country where many festivals and occasions are celebrated. Banks and government offices remain closed on many such festivals and occasions. So, while national bank holidays fall under the purview of the central government, the regional bank holidays are decided by the relevant states and union territories. In this blog, we will highlight the bank holidays of 2023. We have prepared a bank holiday list which will help you plan your bank visits and transactions accordingly. Here is a quick glance at bank holidays in india in 2023:

Indian Bank Holidays 2023

Both private and public banks in India remain closed on important national holidays. They also remain closed every Sunday and the second and fourth Saturdays of every month. The following table provides a list of bank holidays in India in 2023: 

Bank Holiday List for April 2023

Bank Holidays in May 2023

Bank Holidays in June 2023

Bank Holidays in July 2023

Bank Holiday List for August 2023

Bank Holidays in September 2023

Bank Holidays in October 2023

Bank Holidays in November 2023

Bank Holidays in December 2023

Bank Holidays in January 2023

Bank Holidays in February 2023

Bank Holidays in March 2023

Types of Bank Holidays

In India, bank holidays are categorised into national holidays and government holidays. There are three national holidays, Republic Day (January 26), Gandhi Jayanti (October 2), and Independence Day (August 15). Banks across the nation remain closed on these three holidays.

Government holidays, on the other hand, are classified into central government holidays and state government holidays. While central government holidays are observed throughout the nation, state government holidays will vary from one state to another. For example, Goa Liberation Day is a holiday for banks in Goa while Utkal Divas is a holiday only for banks in Odisha.

Bank Holidays on Saturdays in 2023

Before September 1, 2015, banks would remain open for half a day on every Saturday. Nowadays though, banks remain closed on every second and fourth Saturday of a month.

Given below is a list of bank holiday on every Saturday in India in 2023:

RTGS and NEFT Holidays in 2023

From December 2020 onwards, there are no RTGS holidays. The RTGS system is now available on a 24×7 basis.

While RTGS services may be available on various types of bank holidays, there is an important point one needs to note. The amount transferred may get credited to a beneficiary bank account the following working day. 

Before December, 2019, the NEFT facility would be unavailable on bank holidays. The rules were changed after that. Now, anyone can use the NEFT system throughout the year – even on days when banks are closed. Although the facility works on holidays, the sender might get the receipt on the next working day.

Detailed Overview of Bank Holidays 2023

1. Republic Day

Every year, Republic Day is celebrated on January 26 to commemorate India’s declaration as a sovereign republic. The day is marked as a national holiday to celebrate the enactment of the Constitution of India. Banks remain mandatorily closed on this gazetted holiday.

2. Maha Shivratri

In most states, banks remain closed on Maha Shivratri as it is an important Hindu festival and is observed by many in India. 

3. Holi

Holi is a vibrant festival which is celebrated by most people with much enthusiasm. Often, Holi holidays can be of 2 to 3 days. The dates can even vary from state to state. While banks and offices remain officially closed on Holika Dahan or Dol Jatra in some states, in others, they remain closed on the second day of Holi. 

4. Good Friday

In India, banks in most states remain closed on Good Friday – a day that commemorates the crucifixion of Jesus Christ. It is a public holiday in our country.

5. Ambedkar Jayanti

Most Indian states observe the birth anniversary of Dr B R Ambedkar, who is known as the ‘Father of our Constitution’. Banks, government offices and educational institutions remain closed on this particular day.

6. May Day

May Day is observed on May 1 every year. In India, the day is marked as Labour Day. Acknowledging the hard work of the working class and educating them about their rights are the main goals of Labour Day. Banks in most states remain closed on this day.

7. Bakrid/Eid Al Adha Holiday 

Bakrid is a restricted holiday in India. It is an important Islamic festival that is celebrated by many in the country. Many banks, government offices, and educational institutions remain closed on this day.

8. Independence Day

Every bank, educational institution and government office remains closed on August 15 every year to mark India’s independence. It is a gazetted holiday in India. 

9. Janmashtami

Janmashtami marks the birth of Lord Krishna and it is an important Hindu festival. Generally, banks, schools, colleges, and government offices remain closed all over India on this day.

10. Gandhi Jayanti

Gandhi Jayanti is a gazetted holiday in India and so every government office, bank, and educational institution remains closed on this day. The day marks the birth anniversary of Mohandas Karamchand Gandhi, who is known as the ‘Father of the Nation’. 

11. Diwali

Diwali is an important Hindu festival and celebrates the triumph of good over evil. It is famously known as the festival of lights as people celebrate the occasion by decorating their homes with lamps. People celebrate the occasion with great enthusiasm and banks remain closed on this gazetted holiday.

12. Christmas Day

Christmas is an important Christian festival that is celebrated by many in the country. Most states consider Christmas to be a public holiday and so banks, schools, colleges, and other institutions generally remain closed on this day. 

Final Word

Bank holidays in 2023 could differ from one state to another because some holidays are restricted only to certain parts of the country. By being aware of the bank holiday list for 2023 in advance, you may be able to plan your bank visits and transactions better. To know more about banks, and various products and services offered by them, keep reading and following the Navi blog. To check out our cash loans, home loans, mutual funds, or health insurance, download the Navi App today. You are sure fall in love with our customer-centred products and policies. Give it a try!

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Disclaimer

This article is solely for educational purposes. Navi doesn't take any responsibility for the information or claims made in the blog.

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