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:
|Number of Bank Holidays in 2023||Number of Bank Holidays on Saturdays in 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:
|April 4||Tuesday||Mahavir Jayanti|
|April 7||Friday||Good Friday|
|April 8||Saturday||Second Saturday|
|April 14||Friday||Dr. BR Ambedkar Jayanti|
|April 22||Saturday||Eid Ul Fitr and Fourth Saturday|
|May 1||Monday||May Day/Labour Day|
|May 5||Friday||Buddha Purnima|
|May 13||Saturday||Second Saturday|
|May 27||Saturday||Fourth Saturday|
|June 10||Saturday||Second Saturday|
|June 24||Saturday||Fourth Saturday|
|June 29||Thursday||Eid Al Adha/Bakrid|
|July 8||Saturday||Second Saturday|
|July 22||Saturday||Fourth Saturday|
|August 12||Saturday||Second Saturday|
|August 15||Tuesday||Independence Day|
|August 16||Wednesday||Parsi New Year|
|August 26||Saturday||Fourth Saturday|
|August 31||Thursday||Raksha Bandhan|
|September 7||Thursday||Krishna Janmashtami|
|September 9||Saturday||Second Saturday|
|September 19||Tuesday||Ganesh Chaturthi|
|September 23||Saturday||Fourth Saturday|
|September 28||Thursday||Id e Milad or Milad un Nabi|
|October 2||Monday||Gandhi Jayanti|
|October 14||Saturday||Second Saturday|
|October 21||Saturday||Maha Saptami|
|October 22||Sunday||Maha Ashtami|
|October 23||Monday||Maha Navami|
|October 24||Tuesday||Dussehra/Vijaya Dashami|
|October 28||Saturday||Fourth Saturday|
|November 11||Saturday||Second Saturday|
|November 15||Wednesday||Bhai Dooj|
|November 25||Saturday||Fourth Saturday|
|November 27||Monday||Guru Nanak Jayanti|
|December 9||Saturday||Second Saturday|
|December 23||Saturday||Fourth Saturday|
|December 25||Monday||Christmas Day|
|January 1||Sunday||New Year’s Day|
|January 14||Saturday||Second Saturday|
|January 23||Monday||Netaji Subhas Chandra Bose Jayanti|
|January 26||Thursday||Republic Day|
|January 28||Saturday||Fourth Saturday|
|February 5||Sunday||Guru Ravidas Jayanti|
|February 11||Saturday||Second Saturday|
|February 18||Saturday||Maha Shivratri|
|February 25||Saturday||Fourth Saturday|
|March 11||Saturday||Second Saturday|
|March 25||Saturday||Fourth Saturday|
|March 30||Thursday||Ram Navami|
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.
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:
|January 14, 2023||Second Saturday|
|January 28, 2023||Fourth Saturday|
|February 11, 2023||Second Saturday|
|February 25, 2023||Fourth Saturday|
|March 11, 2023||Second Saturday|
|March 25, 2023||Fourth Saturday|
|April 8, 2023||Second Saturday|
|April 22, 2023||Fourth Saturday|
|May 13, 2023||Second Saturday|
|May 27, 2023||Fourth Saturday|
|June 10, 2023||Second Saturday|
|June 24, 2023||Fourth Saturday|
|July 8, 2023||Second Saturday|
|July 22, 2023||Fourth Saturday|
|August 12, 2023||Second Saturday|
|August 26, 2023||Fourth Saturday|
|September 9 , 2023||Second Saturday|
|September 23, 2023||Fourth Saturday|
|October 14, 2023||Second Saturday|
|October 28, 2023||Fourth Saturday|
|November 11, 2023||Second Saturday|
|November 25, 2023||Fourth Saturday|
|December 9, 2023||Second Saturday|
|December 23, 2023||Fourth Saturday|
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.
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.
In most states, banks remain closed on Maha Shivratri as it is an important Hindu festival and is observed by many in India.
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.
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.
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.
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.
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.
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.
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.
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’.
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.
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.
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!
There is no such fixed number of bank holidays in a year. The number of holidays will vary from state to state. However, there are some holidays during which banks across all states remain closed. These holidays include national holidays, major festivals, and every second and fourth Saturday.
No, banks do not remain shut on a weekday in case a holiday falls on the weekend. Banks will operate normally on the working days throughout the week regardless of any holiday on the weekend.
Banks in India stay closed every Sunday, the second and fourth Saturday of each month. Fifth Saturdays are working days. In addition, banks remain closed on national holidays, state holidays and central government holidays.
Yes, according to the Reserve Bank of India, there will be four holidays for banks across different regions in the second week of January. Banks will stay shut in Aizawl on January 11 for Missionary Day, in Kolkata on January 12 for Swami Vivekananda Jayanti and on January 14 and 15 across many states for Pongal or Makar Sankranti.
If you make a transfer through NEFT or RTGS on a bank holiday, the money will be credited to the receiver’s account, but note that you may receive the receipt on the next working day.
Not all Saturdays are holidays for banks. These institutions remain open on the first and third Saturdays of every month.
Banks remain closed on the second and fourth Saturdays of a month.
Yes, Guru Nanak Jayanti is a bank holiday in most Indian states.
Good Friday is a bank holiday in most Indian states as it is an important Christian event and is observed by many in India.
Considering that Janmashtami is an important Hindu festival, banks, government offices and educational institutions, in general, remain closed on the occasion.
Generally, banks remain closed on Mahashivratri on account of the fact that it is celebrated by many in the country.
Since it is a restricted holiday, banks may or may not operate on this occasion. Please refer to the list of public or bank holidays in your state to know more.
Ganesh Chaturthi is an important festival in many Indian states. So, banks in these states generally remain closed on this day.
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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