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Did you have some important work in the bank this Saturday and you were thinking that the banks would be a holiday? There is a common misunderstanding that if there is a bank holiday, banks will remain closed across the country. But this does not happen every time, and the same thing is sometimes shocked by bank customers like air travelers! In fact, the Reserve Bank of India (RBI) has clarified some such things in its recently released holiday list, which shows that the country’s country In 4 big states this Saturday (especially in March 2024, on a special Saturday which is mentioned in the original article), banks will be openWhereas in other places, normal functioning will continue or will be discharged due to any other festival.

What is RBI holiday fund and which states will be open in which states?

RBI releases the list of banks holidays for every month and every year. But it has a screw – these holidays do not apply simultaneously for national festivals or every bank. The list of RBI is based on two types of holidays:

1. Holidays applied across the country: Such as Republic Day, Independence Day, Gandhi Jayanti, or some big religious festivals which are celebrated all over India.

2. State-specific holidays: These are festivals or important days which are celebrated in a particular state or region. Such as the foundation day of a state, a local fair, or major regional festival. These days, banks remain closed in those states.

Now talk about this special Saturday, then the rules of RBI say that if it is the second or fourth Saturday of Saturday (in which banks are closed all over India) and there is no such nationwide holiday together, then banks will remain open there in the states where there is no local festival on that day.

The 4 states in which banks will remain open (these examples are based on the original article, which is based on an developments in March 2024):

If we talk about that special Saturday of March 2024, where banks could be closed due to local holidays like ‘Gudi Padwa’ or ‘Navratri’ in some states, according to RBI guidelines, Maharashtra, Karnataka, Andhra Pradesh and Telangana For example, banks will be open normally in states. This is because these holidays are state-specific, not nationwide.

What does you mean and how to stay ready?

Such situations may be a little confused for customers, but if you take care of some things, then there will be no problem:

1. Check RBI List: Whenever there is any important work to the bank, always visit the official website of RBI before leaving or confirm it from your bank branch. The RBI regularly updates the ‘Banking Holiday Calendar’.

2. Use of digital options: Digital options are always present even if the banks are closed. You can easily do most of your banking work (such as fund transfer, bill payment, balance check) using facilities like online banking, mobile banking, UPI, ATM or digital wallet.

3. Plan: Do not always leave your banking works just before or exactly after the holiday, especially when there is a festival season.

4. ATM facility: Nowadays there is a facility of ATM almost everywhere. ATMs are always available if you need cash.

This system of RBI is not to confuse customers, but to ensure that the access of the financial system remains in every field at all times. With a small check you can avoid any unwanted trouble and complete your banking work without any hindrance.