Bank Holidays In October 2023: Banks Will Be Closed For 16 Days In October, Check Full State Wise Bank Holidays List

After the list of September 2023 bank holidays, it's time for the tenth month of 2023, and with it comes a new set of bank holidays.

Banks will be closed for 16 days in October 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 October observes 16 bank holidays - the first holiday starts from Gandhi Jayanti on Monday, October 02nd, and other holidays like Dussehra on Tuesday, October 24 will be observed holidays which are applicable to all banks in India except some states.

Bank Holidays in October 2023 | Photo: Indiatimes

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 October 2023, there are only 16 days when many private and public sector banks will remain closed due to bank holidays including the second and fourth Saturdays and all Sundays as per the Reserve Bank of India (RBI) guidelines.

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 October 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 October 02, 18, 21, 23, 24, 25, 26, 27, and 31. Apart from this, there are four Sundays in October falling on October 01, 08, 15, 22, and 29 also on the second and fourth Saturdays on October 14 and 28.

According to the Reserve Bank's calendar, apart from the weekends, there are 09 bank holidays in October. The central government divided the holidays into three categories, under the Negotiable Instruments Act, of 1881.

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

Bank Holidays In October 2023

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

(Please note that the below list includes the general bank holidays and State-specific holidays may vary for the month of October 2023, and it is advisable to check with your local bank branch for any additional holidays that may apply.)

1. Bank Holiday on October 1st (Sunday) - Weekend

Banks across the country will be closed on their weekly off on Sunday, 1 October 2023.

2. Bank Holiday on October 2nd (Monday) - Gandhi Jayanti Holiday

All the private and government banks will remain shut across the country on Monday, October 2nd. The day also marks the 154th birth anniversary of the father of the nation, Mahatma Gandhi. This day is also called Gandhi Jayanti.

3. Bank Holiday on October 8th (Sunday) - Weekend

Banks across the country will be closed on their weekly off on Sunday, 8 October 2023.

4. Bank Holiday on October 14th (Saturday) - Second Saturday and Mahalaya

Banks will be closed due to the second Saturday holiday across the country on 14 October 2023 and in West Bengal due to Mahalaya.

5. Bank Holiday on October 15th (Sunday) - Weekend

Banks across the country will be closed on their weekly off on Sunday, 15 October 2023.

6. Bank Holiday on October 18th (Wednesday) - Kati Bihu

Banks across Sikkim will be closed on Wednesday, October 18, 2023, on the occasion of Kati Bihu, an important Assamese festival of Assam. Also known as Kongali Bihu, the festival marks the relocation of the rice crop and the beginning of the fresh harvest season that falls on the first day of the ¡®Kati¡¯ month in the Assamese calendar.

7. Bank Holiday on October 21st (Saturday) - Durga Puja (Maha Saptami)

Banks remain closed on Saturday, October 21st due to the celebration of Durga Puja in Tripura, Assam, Manipur and West Bengal.

8. Bank Holiday on October 22nd (Sunday) - Weekend

Banks across the country will be closed on their weekly off on Sunday, 22 October 2023.

9. Bank Holiday on October 23rd (Monday) - Dussehra (Mahanavami)/Ayudha Pooja/Durga Puja/Vijaya Dasami

Banks will be closed on the occasion of Dusshera (Mahanavami)/Ayudha Pooja/Durga Puja/Vijaya Dasami in Tripura, Karnataka, Odisha, Tamil Nadu, Assam, Hyderabad (Andhra Pradesh), Uttar Pradesh, Kerala, Nagaland, West Bengal, Bihar, Jharkhand, Meghalaya.

10. Bank Holiday on October 24th (Tuesday) - Dussehra/Dusshera (Vijaya Dashmi)/Durga Puja

Banks will be closed on the occasion of Dusshera (Mahanavami)/Ayudha Pooja/Durga Puja/Vijaya Dasami across the country except, Hyderabad - Andhra Pradesh and Manipur on October 24th, Tuesday.

11. Bank Holiday on October 25th (Wednesday) - Durga Puja (Dasain)

Banks will remain closed on Wednesday, October 25, 2023, due to the celebration of Durga Puja (Dasain) in Sikkim.

12. Bank Holiday on October 26th (Thursday) - Durga Puja (Dasain)/Accession Day

Banks will remain closed on Thursday, October 26, 2023, due to the celebration of Durga Puja (Dasain)/Accession Day in Sikkim and Jammu.

13. Bank Holiday on October 27th (Friday) - Durga Puja (Dasain)/Accession Day

Banks will remain closed on Friday, October 27, 2023, due to the celebration of Durga Puja (Dasain)/Accession Day in Sikkim.

14. Bank Holiday on October 28th (Saturday) - Fourth Saturday and Lakshmi Puja

Banks remain closed across the country on Saturday, October 28, 2022, a weekly off, and in West Bengal due to Lakshmi Puja.

15. Bank Holiday on October 29th (Sunday) - Weekend

Banks across the country will be closed on their weekly off on Sunday, 29 October 2023.

16. Bank Holiday on October 31st (Tuesday) - Sardar Vallabhbhai Patel¡¯s Birthday

Banks remain shut on Tuesday, October 31st, on the occasion of Vallabhbhai Patel¡¯s Birthday in Gujarat.

Types of holidays in India:

There are two types of holidays observed in India, National Holidays and Government Holidays.

National holidays

- National Holidays (Gazetted holidays)which include Republic Day, Independence Day, and Mahatma Gandhi Jayanti. On National holidays banks, schools, government offices, and other types of private sectors remain shut across the country.

Government holidays

- Government holidays in India are classified into two types: state government bank holidays and central government bank holidays. State government bank holidays are observed only in the respective state, while central government bank holidays are observed across the country. For example, Himachal Day is a bank holiday in Himachal Pradesh, but it is not a bank holiday in other states. Similarly, Onam is a bank holiday in Kerala, but it is not a bank holiday in other states. On the other hand, Republic Day, Independence Day, and Gandhi Jayanti are all central government bank holidays that are observed across the country.

List of important days in October 2023:

1. Gandhi Jayanti

Gandhi Jayanti is a most important and significant day across the country, celebrated on October 2nd every year to honor the birthday of Mahatma Gandhi also known as 'Father of the Nation', a revered leader in India's struggle for independence. Gandhi Jayanti is a national holiday in India. All the public and private sector banks, schools, and offices observe the holiday. In 2023 Nationa celebrates the 154th birth anniversary of the 'Mahatma Gandhi ( Father Of The Nation)' on Monday. It is a national holiday in India, celebrated with great reverence. This day serves as a reminder of his principles of non-violence (Ahinsa), truth, and peace.

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