Bank Holidays In June 2023: Banks Will Be Closed For 12 Days Across States In June, Check Full State-Wise Bank Holiday List

After the list of May 2023 bank holidays, it's time for the sixth month of the new year, and with it comes a new set of bank holidays.?

Banks will be shut for 12 days in June? 2023 including second and fourth Saturdays and Sundays. As per the Reserve Bank of India (RBI) guidelines, banks will be closed on all public holidays with some regional holidays depending on the particular state. Regional holidays are decided by respective state governments.

The month of June observes 12 bank holidays - the first holiday starts from Y.M.A. Day/Raja Sankranti on June 15 and other holidays like Eid-Ul-Adha on June 29 will be observed holidays which are applicable to all banks in India except some states.

AFP

Most Indian banks’ functions are regulated by the Reserve Bank of India, and banking schedules and holidays are also governed by the Reserve Bank of India (RBI) regulations. Public sector banks and private sector banks both are not working on Sundays and on second and fourth Saturdays.

Bank holidays in India come in a variety of flavours -- it's a mix of mandated holidays by the banking sector, plus a whole set of festive and commemorative holidays authorised by various states.

In June 2023, there are only 12 days when many private and public sector banks will remain closed due to bank holidays including weekends. Banks will be shut for 12 days in?June?2023 including the second and fourth Saturdays and Sundays as per the Reserve Bank of India (RBI) guidelines.?

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 June vary from state to state as holidays are determined keeping in mind the local festivals.?

Banks will be closed on all public holidays with some regional holidays, depending on the particular state. Regional holidays are decided by the respective state governments; they are not mentioned on RBI's official website.?

According to RBI guidelines, banks are closed on Sundays as well as on the second and fourth Saturdays of the month. Under the Negotiable Instruments Act, RBI has declared bank holidays on June 15, 20, 26, 28, 29 and 30. Apart from this, there are four Sundays in June falling on June 4, 11, 18, and 25 also on the second and fourth Saturdays on June 10 and 24.

According to the Reserve Bank's calendar, apart from the weekends, there are 6 bank holidays in June. The central government divided the holidays into three categories, under the Negotiable Instruments Act, of 1881.

Those who have to complete important work related to the bank in June, should see the list of holidays and plan their work in advance.

Check out the state-wise list of bank holidays in June 2023:?

1. June 04, 2023 (Sunday) - Weekend Holiday

Banks across the country will be closed on their weekly off on Sunday, 04 June 2023.

2. June 10, 2023 (Saturday) - Second Saturday Of The Month

All the banks across the country remain closed on the second Saturday of the month on 10 June 2023.

3. June 11, 2023 (Sunday) - Weekend Holiday

Banks across the country will be closed on their weekly off on Sunday, 11 June 2023.

4. June 15, 2023 (Thursday) - Y.M.A. Day/Raja Sankranti

Banks will be closed on the occassion of Y.M.A. Day/Raja Sankranti in Mizoram and Odisha on June 15.

5. June 18, 2023 (Sunday) - Weekend Holiday

Banks across the country will be closed on their weekly off on Sunday, 18 June 2023.

6. June 20, 2023 (Tuesday) - Kang (Rathajatra)/Ratha Yatra

Banks will remain shut in Odisha and Manipur due to Kang (Rathajatra)/Ratha Yatra on June 20.

7. June 24 (Saturday) - Fourth Saturday of the month

All the banks in the country remain closed on the fourth Saturday of the month on 24 June 2023.

8. June 25, 2023 (Sunday) - Weekend Holiday

Banks across the country will be closed on their weekly off on Sunday, 25 June 2023.

9. June 26, 2023 (Monday) - Kharchi Puja

Banks will be closed in Tripura on the occasion of Kharchi Puja on June 26.

10. June 28, 2023 (Wednesday) - Eid-Ul-Adha

Banks will be closed in Maharashtra, Jammu & Kashmir, and Kerala on the occasion of Eid-Ul-Adha.

11. June 29, 2023 (Thursday) - Eid-Ul-Adha

Banks remain shut on June 29, across the country except for Odisha, Sikkim, Kerala, Maharashtra, and Kerala due to Eid-Ul-Adha.

12. June 30, 2023 (Friday) - Remna Ni/Eid-Ul-Adha

Bank will be closed in Mizoram and Odisha on June 30 due to Remna Ni/Eid-Ul-Adha

Bank employees may soon work a five-day week

Bank employees across the country are likely to get a 5-day work week soon. The Indian Banks Association (IBA) and United Forum of Bank Unions (UFBU) has proposed a 5-day work week for bank employees, and the finance ministry has said that it has no objection to the proposal. The IBA has said that the 5-day work week will be implemented in phases, and that it could be in place by the end of 2023.

According to CNBC, in a notification dated July 19, UFBU said the issue of a 5-day work week was under ‘active’ consideration of stakeholders.

“IBA informed that the issue is under active consideration of various stakeholders and the same is being pursued. We asked the IBA to expedite the same so that 5 banking days per week is introduced without further delay,” the notification stated.

Currently, the bank employees get off on the first and fourth Saturday. The demand caught hold since the government implemented the rule of five working days in the Life Insurance Corporation of India (LIC). Under the proposed 5-day work week, bank employees will work for an additional 40 minutes each day. This means that they will work from 9:45 am to 5:30 pm, Monday to Friday. Saturdays will be a holiday for all bank employees.

The 5-day work week has been a long-standing demand of bank unions. They have argued that it will improve the work-life balance of bank employees and make it easier for them to attend to personal and family commitments.?

However, Online bank services such as - Internet Banking, Mobile banking, etc, and ATM machines and Bank Kisoks will remain on working.

The implementation of the 5-day work week for bank employees is still pending final approval from the government. However, it is likely to be implemented in the near future. This will be a welcome change for bank employees, who have been working on alternating Saturdays for many years.

Here is the complete list of Bank Holidays in 2023:

Bank Holidays 2023 in India state-wise:

Bank Holidays 2023 month-wise

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

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