Public sector banks in India typically do not operate on Saturdays, creating uncertainty for customers planning visits.
Recent speculation about a potential shift to a five-day workweek adds to the confusion. So, are the bank open today? Here we clear your confusion so that you avoid potential inconveniences during your bank visits.
There has been no official confirmation of change in working structure of banks to a five-day week. As of now, banks adhere to the traditional schedule, observing holidays on the second and fourth Saturdays, in addition to Sundays. Thus, banks will remain open on this Saturday.
India’s banking sector has formally sent proposal to finance ministry declaring all Saturdays as official holidays.
Addressing inquiries regarding the Indian Banks Association (IBA) advocating for a five-day work week, minister of state for finance Bhagwat Karad in parliament confirmed the IBA’s submission of the proposal. But there is yet to be any confirmation on its acceptance.
When are banks closed?
Currently, bank employees have days off on Sundays and the second and fourth Saturdays, with additional holidays on festivals determined by the Reserve Bank of India (RBI). However, online services continue to operate even on holidays.
The RBI’s holiday list for December shows that banks will be closed for eighteen days. This includes December 18 and 19 for events such as the Death Anniversary of U SoSo Tham and Goa Liberation Day. Additionally, December 25, 26, and 30 are designated holidays for Christmas Day Celebration and U Kiang Nangbah. It’s important to note that these holidays vary by region and are not applied uniformly across the country.
The RBI has categorised them into different types, including Holidays under the Negotiable Instruments Act and real-time gross settlement holidays.
The complete list is available on the RBI’s website, through which people can plan their bank visits and other activities accordingly.