Bank Holidays on Janmashtami 2024: Will banks and share market be closed on Krishna Janmashtami, August 26, Monday? Check details here

Banks in various states across India will be closed on Monday, August 26 for Shri Krishna Janmashtami, according to the Reserve Bank of India (RBI) holiday calendar.

On Monday, August 26, 2024, many private and public sector banks in various cities across India will be closed for Janmashtami. According to the RBI's website, this holiday is declared under the Negotiable Instruments Act. However, not all banks in the country will be closed, only those in certain states.?

Janmashtami Bank Holiday in these cities

Cities like Ahmedabad, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Hyderabad (Andhra Pradesh and Telangana), Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Patna, Raipur, Ranchi, Shillong, Shimla, and Srinagar will have banks closed. If you plan to do any banking in these cities, make sure to complete your tasks in advance.

Stock Market Update for Krishna Janmashtami

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In August, apart from Saturdays and Sundays, the stock market had only one public holiday on August 15 for Independence Day. The stock market will be closed on August 24 (Saturday) and August 25 (Sunday).

Krishna Janmashtami 2024 is on Monday, August 26. The whole country will joyfully celebrate Lord Krishna's birthday. While many places will have holidays, the stock market will remain open for trading as usual on the BSE and NSE. The commodity trading platform MCX (Multi Commodity Exchange) will also be open.

Remember, except for a few public holidays, the stock market and MCX are closed every Saturday and Sunday. In August, aside from Saturdays and Sundays, the stock market had only one public holiday, which was on August 15 for Independence Day. The market will be closed on Saturday, August 24, and Sunday, August 25, due to the holidays.

Here’s a list of the key Bank Holidays in August 2024:

• August 13 (Tuesday): Patriot’s Day – Banks will be closed in Manipur.
• August 15 (Thursday): Independence Day/Parsi New Year (Shahenshahi) – Banks across India will be closed.
• August 19 (Monday): Raksha Bandhan/Jhulana Purnima/Birthday of Bir Bikram Kishore Manikya Bahadur – Banks will be closed in Tripura, Gujarat, Odisha, Uttarakhand, Rajasthan, Uttar Pradesh, and Himachal Pradesh.
• August 20 (Tuesday): Sree Narayana Guru Jayanthi – Banks will be closed in select states.
• August 26 (Monday): Janmashtami (Shravan Vad-8)/Krishna Jayanthi – Banks will be closed in Gujarat, Odisha, Chandigarh, Tamil Nadu, Uttarakhand, Sikkim, Andhra Pradesh, Telangana, Rajasthan, and more.

Digital Banking: A Convenient Solution During Bank Holidays

Despite the many bank holidays in 2024, customers can still handle their finances through digital banking. It allows you to do important banking tasks from anywhere, anytime, without going to a bank branch. Whether you use a laptop, tablet, or smartphone, digital banking ensures your financial transactions run smoothly, even when banks are closed.

Why is Janmashtami celebrated?

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Janmashtami is a Hindu festival that marks the birth of Lord Krishna, celebrated on the eighth day (Ashtami) of the Bhadrapada month, which usually falls in August or September. Lord Krishna, an incarnation of Lord Vishnu, was the eighth child of Devaki and Vasudeva. Long ago, Mathura was ruled by the cruel King Kansa, who spread fear and terror across the land.

After hearing a prophecy that Devaki and Vasudeva’s eighth son would be his downfall, Kansa imprisoned them and killed their newborns. However, since Krishna was divine, the gods helped him escape. On the night Krishna was born, the prison guards fell into a deep sleep, allowing Vasudeva to flee with baby Krishna. He traveled from Mathura to Vrindavan and left Krishna in the care of his friend Nanda and Nanda’s wife Yashoda. When Krishna grew up, he returned to Mathura to defeat Kansa, fulfilling the prophecy and ending Kansa's reign of terror.