Republic Day 2024: Are Banks Closed On 75th Gantantra Diwas And The Holiday Weekend?

On Republic Day 2024, which falls on January 26th, there is a question looming regarding the status of banks¡ªwhether they will be open or closed on this national holiday in India and the long holiday weekend. Here you can check the details:

Are banks closed on Republic Day 2024?

On Republic Day 2024, observed on January 26th, banks across the country will remain closed as it is a national holiday in India. Celebrating the adoption of the Constitution of India, this day is marked with patriotic fervor and various events across the nation. Citizens are advised to plan their banking transactions accordingly, as routine banking services will be suspended on Republic Day. While ATMs and online banking services are generally available, specific branch operations might be affected. It is advisable to check with your bank for precise information on their operational status during Republic Day. Enjoy the celebrations and be mindful of any potential banking disruptions.

Republic Day 2024 Weekend Bank Holidays:

Get ready for a three-day weekend as banks gear up for closures on January 26, 27, and 28.

Bank Holidays in January 2024

Bank holidays vary across different states, and in January 2024, banks will remain closed for a total of 16 days, including the second and fourth Saturdays, Sundays, and other regional holidays. Additionally, in several states, banks observed a holiday on January 22, 2024, to commemorate the inauguration of the Ram Mandir in Ayodhya.

The Reserve Bank of India (RBI) categorizes bank holidays into three groups: Holidays under the Negotiable Instruments Act, Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday, and Banks¡¯ Closing of Accounts.

In January, banks took a break on different occasions like New Year's Day, Missionary Day, Swami Vivekananda's Birth Day, Pongal, Makara Sankranti Festival, Thiruvalluvar Day, Uzhavar Thirunal/Sri Guru Gobind Singh Ji Birthday, Consecration ceremony of Lord Shri Ram in the temple at Shri Ram Janmabhoomi complex/Imoinu Iratpa, Gaan-Ngai/Birthday of Netaji Subhas Chandra Bose, Thai Poosam/Birthday of Md. Hazarat Ali, and Republic Day.

During these breaks, people celebrated various cultural and religious events, showcasing India's diverse heritage. The bank closures allowed individuals to actively participate in festivities and pay tribute to the historical and cultural importance of each occasion.

It's worth noting that these holidays may impact regular banking services, so individuals should plan their financial activities accordingly.

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.)

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