Banks are gearing up for a long stretch of holidays to hit them in the month of July. The Reserve Bank of India (RBI) released a list of bank holidays for the month of July, which has a total of 14 holidays. Counting from today, July 9, there will be 9 holidays that fall under the state-wise category, religious festivities and other celebrations, while 5 out of the total 14, remain regular weekends. This list has been set and declared under the Negotiable Instruments Act.
The RBI classifies these leaves under three general categories – ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act’ and ‘Real-Time Gross Settlement Holiday and Banks’ Closing of Accounts’. The holidays for this month fall under the first category entirely.
Starting from tomorrow, July 10, there will be five consecutive days of leave for lenders. However, these leaves will be state-wise only and do not take place for all states on the same days. On the bright side, the majority of these holidays are dispersed across different states and the vast majority of them take place at different times in different states. There is hardly any overlap. The only holiday that applies on the same day to all the banks across India is Bakri Id (Id-Ul-Zuha) (Eid-UI-Adha). This will take place on July 21, for the majority of banks, but with a few exceptions.
The RBI regulations make these leaves applicable to banks in the public sector, private sector, foreign banks as well as cooperative and regional banks.
Here is the complete list of holidays for banks in the month of July (Counting from July 9).
1) 10 July 2021 - Second Saturday (Weekend off)
2) 11 July 2021 – Sunday (Weekend off)
3) 12 July 2021 - Monday - Kang (Rathajatra) / Rath Yatra (Bhubaneswar, Imphal)
4) 13 July 2021 - Tuesday - Bhanu Jayanti (Gangtok)
5) 14 July 2021 – Wednesday - Drukpa Tshechi (Gangtok)
6) 16 July 2021- Thursday - Harela Puja (Dehradun)
7) 17 July 2021 – Saturday - U Tirot Sing Day / Kharchi Puja (Agartala, Shillong)
8) 18 July 2021 – Sunday (Weekend off)
9) 19 July 2021 – Monday - Guru Rimpoche’s Thungkar Tshechu (Gangtok)
10) 20 July 2021 – Tuesday – Bakrid (Jammu, Kochi, Srinagar, Thiruvananthapuram)
11) 21 July 2021 - Tuesday – Eid-Ul-Adha (Pan-India with the exception of Aizawl, Bhubaneswar, Gangtok, Kochi and Thiruvananthapuram)
12) 24 July 2021 - 4th Saturday (Weekend off)
13) 25 July 2021 – Sunday (Weekend off)
14) 31 July 2021- Saturday - Ker Puja (Agartala)
As stated earlier, these holidays are spread out across states and take place on different dates. Hardly more than two states overlapping for the days off, with the exception of Bakri Id (Id-Ul-Zuha) (Eid-UI-Adha) on July 21. Even that has some exceptions as Aizawl, Bhubaneswar, Gangtok, Kochi and Thiruvananthapuram will not be a part of that off. With that said, plan your bank business accordingly for this month.