Bank Holidays In January 2024: Banks Will Be Closed For 17 Days Check Full List Here

Bank Holidays In January 2024: In India, bank holidays play a very important role in shaping the rhythm of financial transactions and services. The Reserve Bank of India (RBI), commonly referred to as the Central Bank, establishes a schedule of national and government holidays that all banks across the country observe.

There are many types of Banks in India such as Cooperative Banks, Regional Rural Banks (RRB), Small Finance Banks (SMB), Local Area Banks (LAB) and many others which all regulated by the Reserve Bank of India (RBI).

In addition to nationwide holidays, banks recognise regional holidays that vary depending on the state where a specific branch is situated. This regional dimension contributes to the diversity of the holiday calendar.

Bank Holidays In January 2024 | Photo: Indiatimes

Additionally, all banks in India uniformly remain closed on the second and fourth Saturdays of every month. This consistent practice aligns with the broader effort to balance work-life schedules and provide banking staff with regular breaks.

Being mindful of these bank holidays is very important for individuals and businesses alike, as it allows for better planning of financial activities and transactions. Whether it's making deposits, withdrawals, or other banking-related tasks, understanding the holiday schedule ensures a smoother and more convenient banking experience for everyone in India.

Stay informed about the scheduled holidays to ensure a seamless banking experience. This comprehensive guide provides details on the specific dates when banks will be non-operational, allowing you to manage your financial affairs efficiently. Whether you're a business owner, an investor, or an individual managing personal finances, understanding the bank holiday schedule is essential for a hassle-free banking experience in January 2024.

The month of January 2024 has over 15 bank holidays including Sundays, Second and Fourth Saturdays, beginning with the New Year 2024 on Monday, January 1st, and other holidays, such as the Guru Gobind Singh Jayanti on the 17th of January and Republic Day on Friday, January 26th, will be observed as bank holidays that apply to all banks in India except some states.

However, people will not face any problems with bank-related work as holidays are not frequent or are at short intervals; ATMs, cash deposits, online banking, and mobile banking will continue to function. These holidays in January vary from state to state as holidays are determined keeping in mind the local festivals.?

Plan your financial activities and transactions accordingly as banks will remain closed on below designated days in the month of January in 2024.

Check out the state-wise list of bank holidays in January 2024:

Let's take a look at the bank holidays in January 2024 across various states:

January 1 (Monday): New Year’s Day

Banks will be closed in Mizoram, Tamil Nadu, Sikkim, Arunachal Pradesh, Manipur, Nagaland, and Meghalaya to celebrate New Year’s Day.

January 2 (Tuesday): New Year’s Celebration

Banks in Mizoram will remain closed for New Year’s Celebration.

January 11 (Thursday): Missionary Day

Banks in Mizoram will be closed in observance of Missionary Day.

January 15 (Monday): Uttarayana Punyakala/Makara Sankranti Festival/Maghe Sankranti/Pongal/Magh Bihu

Banks will be closed in Karnataka, Orissa, Tamil Nadu, Andhra Pradesh, Telangana, Sikkim, and Assam to celebrate various festivals on this day.

January 16 (Tuesday): Thiruvalluvar Day

Banks in Tamil Nadu will be closed in honor of Thiruvalluvar Day.

January 17 (Wednesday): Uzhavar Thirunal/Sri Guru Gobind Singh Ji Birthday

Banks will remain closed in Chandigarh and Tamil Nadu to observe Uzhavar Thirunal and the birthday of Sri Guru Gobind Singh Ji.

January 22 (Monday): Imoinu Iratpa

Banks in Manipur will be closed on this day for Imoinu Iratpa.

January 23 (Tuesday): Gaan-Ngai

Banks in Manipur will remain closed for Gaan-Ngai.

January 25 (Thursday): Thai Poosam/Birthday of Md. Hazarat Ali

Banks in Tamil Nadu, Maharashtra, and Uttar Pradesh will be closed on this day.

January 26 (Friday): Republic Day

Banks will remain closed across the country on Republic Day on January 26th.

As per the RBI rules, there are three categorised holidays and they are as follows:

1. Holiday under the Negotiable Instruments Act

2. Holiday under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday

3. Banks' Closing of Accounts

(Note: The Reserve Bank Of India has not issued the list of official holidays for 2024 as yet. We will update the article as and when the new list is out.)