Raksha Bandhan, a cherished festival celebrating the bond between brothers and sisters, will be observed on August 19, 2024. As the festival falls in the month of Shravan, which typically occurs in August, it is a widely celebrated occasion throughout India.

In alignment with the festive observance, the Reserve Bank of India (RBI) has listed Raksha Bandhan as a bank holiday. This means that both public and private sector banks will be closed in cities where Raksha Bandhan is recognized as a holiday.

For those planning their banking activities around this time, it is crucial to note that August will see a total of 13 bank holidays, including the second and fourth Saturdays.

On Raksha Bandhan, banks will be closed in the following cities and states:

  • Agartala (Tripura)
  • Ahmedabad (Gujarat)
  • Bhubaneswar (Odisha)
  • Dehradun (Uttarakhand)
  • Jaipur (Rajasthan)
  • Kanpur
  • Lucknow (Uttar Pradesh)
  • Shimla (Himachal Pradesh)

Despite the physical closure of bank branches, customers will still have access to digital banking services. This includes Internet banking, mobile banking, WhatsApp banking, NEFT, and RTGS, allowing for transactions and account management without visiting the bank in person.

  • August 20: Banks will be closed in Kerala for Sree Narayana Guru Jayanthi.
  • August 24: Nationwide bank closure for the fourth Saturday of the month.
  • August 25: All banks will be closed for the weekend.
  • August 26: Banks will be closed in various states, including Gujarat, Odisha, Chandigarh, Tamil Nadu, Uttarakhand, Sikkim, Andhra Pradesh, Telangana, Rajasthan, Jammu, Uttar Pradesh, West Bengal, Bihar, Chhattisgarh, Jharkhand, Meghalaya, Himachal Pradesh, and Srinagar for Janmashtami or Krishna Jayanthi.

According to RBI guidelines, bank holidays are classified under three categories:

  1. Negotiable Instruments Act: Holidays under this category are designated by the Negotiable Instruments Act, typically covering specific public and religious holidays.
  2. Negotiable Instruments Act and Real Time Gross Settlement Holiday: This includes holidays recognized under both the Negotiable Instruments Act and for Real Time Gross Settlement.
  3. Banks Closing of Accounts: This category covers days when banks are closed for internal account management.

Planning ahead and being aware of these dates can help avoid any inconvenience in managing banking needs during the festive period.