A Bank Holiday in India is a public holiday declared especially for banks and other financial institutions. Not all public holidays can be considered as bank holidays. All the bank holidays are declared by Central / State Governments / Union Territories under NI (Negotiable Instruments) Act. The Reserve Bank of India (RBI) releases a list of bank holidays every year and every bank is entitled to follow the guidelines of the Reserve Bank of India (RBI). Let’s check the list of bank holidays 2024 released by the Reserve Bank of India.
In addition to national holidays, each state in India in the significance of its cultural and religious diversity has local festivals and hence the set of bank holidays differ from one state to another. Also, it is to be noted that all 2nd and 4th Saturday and Sundays are bank holidays.