Raksha Bandhan 2023: Banks To Remain Closed On August 30 Or August 31, Check Here

According to the RBI bank holiday calendar, both August 30 and 31 are being celebrated as Raksha Bandhan. But, there are different regions where banks will be closed on each day. 

Many people are confused about whether we should celebrate Raksha Bandhan on August 30 or 31, or both?

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Raksha Bandhan Bank Holiday: Raksha Bandhan, a celebration of the deep bond that siblings share, this year, however, presented a unique dilemma. Many people are confused about whether we should celebrate Raksha Bandhan on August 30 or 31, or both? Similarly, many people are also confused about what days banks will be closed for Raksha Bandhan in their states/cities. 

According to the RBI bank holiday calendar, both August 30 and 31 are being celebrated as Raksha Bandhan. But, there are different regions where banks will be closed on each day. 

Notably, the RBI is the banking regulatory authority in India and determines their schedules and holidays for the whole year. Bank holidays in India also consist of mandatory holidays set by the banking sector and additional holidays for festivals and special occasions authorised by different states.

In August, banks across the country observed as many as 14 holidays including all Sundays as well as the second and fourth Saturdays. It's important to note that these holidays may vary depending on the state. 

The August bank holidays begin with Tendong Lho Rum Faat on August 8 and end with Raksha Bandhan on August 31. These holidays apply to all banks in India, except in certain states.

Here is the list of cities/states Raksha Bandhan Bank Holiday will be observed on August 30:

• Ahmedabad/Gujarat
• Bhopal/Madhya Pradesh
• Jaipur/Rajasthan 
• Shimla/Himachal Pradesh

Here is the list of cities/states Raksha Bandhan Bank Holiday will be observed on August 31:

• Lucknow, Kanpur/Uttar Pradesh
• Dehradun/Uttrakhand
• Gangtok/Sikkim
• Thiruvananthapuram, Kochi/Kerala

Those planning to visit the bank these days for important work, should see the list of holidays and plan their work in advance. According to the Reserve Bank's calendar, apart from the weekends, there are 8 bank holidays in August. The central government divides the holidays into three categories, under the Negotiable Instruments Act, of 1881.

Bank-related work will not pose any inconvenience to people as essential services like ATMs, cash deposits, online banking, and mobile banking will continue to operate during these holidays.