Banks are expected to remain closed for 11 days in the first month of next year (2023), according to the list of holidays released by the Reserve Bank of India. These holidays include four Sundays, two Saturdays (second and fourth) and Republic Day celebrations besides, and three state-specific holidays, which include, New Year Celebrations on January 2 (Aizawl), Imoina Iratp and Gaan Ngai of Imphal.
There is a total of 32 bank holidays in 2023, with October having the highest 5 holidays, and December has the least with only one. Banks would be closed for four days in November and April, three days each in August, September, March and January. Holidays of two days have been fixed for May, June and February each. Online and net banking would remain functional during the holidays.
The public sector, private sector banks, cooperative banks, regional banks and foreign banks adhere to the holiday notifications of the Reserve Banks of India.
The state government, Central government and Union Territories list the holidays under the Negotiable Instrument Act, of 1881. The second and fourth Saturdays of every month are national holidays, banks remain closed. There are 24 double and fourth Saturday holidays in 2023, taking the total count of holidays to 56.
The holidays of the banks are also categorized into three categories namely; Holidays Under the Negotiable Instrument Act, Holidays Under the Negotiable Instrument Act and The Real Time Gross Settlement Holidays and Banks’ closing of Accounts.
There are eight bank holidays in December this year, the 27, 30 and 31 are the upcoming holidays besides 3, 18, 24, 25, and 26.