Bank Holidays in India 2023, Check The Full List Here

Apart from the below-mentioned bank holidays declared by the state governments, the central government, and the union territories under the Negotiable Instruments Act of 1881, banks all across India also remain shut on the second Saturday, fourth Saturday, and all Sundays of each month. However, if a month has five Saturdays, banks will be closed on the fourth Saturday and open on the fifth Saturday.?

Bhupinder SinghUpdated: Jan 02, 2024, 17:19 IST
6 min read
Bank Holidays

It is important to be aware of a number of significant bank holidays in 2023. A number of bank holidays are observed in certain states, and others are observed across the country by the state governments, the central government, and the union territories under the Negotiable Instruments Act of 1881. Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2) are all national holidays in India, where banks across the country will be closed. Banks across most states will also be closed on festivals such as Holi, Good Friday, Diwali, Christmas, Eid, and others. Apart from holidays banks will also be closed on the second and fourth Saturdays of the month and every Sunday. In case any month comes with five Saturdays, the fifth Saturday will be a working day for the bank.

There are many holidays, like Good Friday, Baisakhi, Muharram, Goverdhan Puja, Dussehra, Durga Puja, and many others, when banks are closed in the country except in several states because these holidays are determined by state governments. Mizoram, for example, has state-specific holidays such as Missionary Day; Manipur has Cheiraoba; Himachal Pradesh has Maharana Pratap Jayanti; and many more.

Bank Holiday 2023 Unsplash

According to the Reserve Bank's calendar, apart from the weekend, there are national holidays throughout the year. Under the Negotiable Instruments Act, 1881, the central government divided the holidays into three categories: those under the Negotiable Instruments Act, real-time gross settlement holidays, and banks¡¯ closing of accounts.

Apart from the below-mentioned bank holidays declared by the state governments, the central government, and the union territories under the Negotiable Instruments Act of 1881, banks all across India also remain shut on the second Saturday, fourth Saturday, and all Sundays of each month. However, if a month has five Saturdays, banks will be closed on the fourth Saturday and open on the fifth Saturday.

How are Bank Holidays decided in India?

Bank Holiday 2023 Economic Times

India is a country full of festivals, with dozens of festivals and occasions celebrated by different religions throughout the year, but not all the festivals and occasions are celebrated by all the people. Central and state governments decide bank holidays in India by working together to recognise the significance of specific occasions for particular communities. National bank holidays are decided by the central government, while bank holidays for local festivals are determined by the state or union territorial governments.

In 2023, Indian banks will be closed on national holidays, also known as gazetted holidays, and certain non-gazetted public holidays.

Here is the complete list of Bank Holidays in 2023 in India:

DateDayHoliday
January 1, 2023
SundayNew Year¡¯s Day
January 23, 2023
MondayNetaji Subhash Chandra Bose Jayanti
January 26, 2023
ThursdayRepublic Day
February 5, 2023
Sunday Guru Ravidas Jayanti
February 18, 2023
SaturdayMaha Shivaratri
March 8, 2023Wednesday
Holi
March 22, 2023WednesdayUgadi
March 30, 2023ThursdayRam Navami
April 4, 2023
TuesdayMahavir Jayanti
April 7, 2023FridayGood Friday
April 14, 2023
FridayDr Ambedkar Jayanti
April 22, 2023
SaturdayEid ul Fitr
May 1, 2023
MondayMay Day/ Labour Day
May 5, 2023
FridayBuddha Purnima
June 29, 2023
ThursdayBakrid/ Eid al Adha
July 29, 2023
SaturdayMuharram
August 15, 2023
TuesdayIndependence Day
August 16, 2023
WednesdayParsi New Year
August 31, 2023
ThursdayRaksha Bandhan
September 7, 2023
ThursdayJanmashtami
September 19, 2023
TuesdayGanesh Chaturthi
September 28, 2023
ThursdayEid e Milad
October 2, 2023Monday
Gandhi Jayanti
October 21, 2023
MondayMaha Saptami
October 22, 2023
SundayMaha Ashtami
October 23, 2023
MondayMaha Navami
October 24, 2023
TuesdayVijaya Dashami
November 12, 2023
SundayDiwali
November 13, 2023
MondayDeepavali Holiday
November 15, 2023
WednesdayBhai Dooj
November 27, 2023
MondayGuru Nanak Jayanti
December 25, 2023
MondayChristmas Day

List of Bank Holidays 2023 on the Second and Fourth Saturdays:

DateHoliday
14th January
Second Saturday
28th January
Fourth Saturday
11th February
Second Saturday
25th February
Fourth Saturday
11th March
Second Saturday
25th March
Fourth Saturday
8th April
Second Saturday
22nd April
Fourth Saturday
13th May
Second Saturday
27th May
Fourth Saturday
10th June
Second Saturday
24th June
Fourth Saturday
8th July
Second Saturday
22nd July
Fourth Saturday
12th August
Second Saturday
26th August
Fourth Saturday
9th September
Second Saturday
23rd September
Fourth Saturday
14th October
Second Saturday
28th October
Fourth Saturday
11th November
Second Saturday
25th November
Fourth Saturday
9th December
Second Saturday
23rd December
Fourth Saturday

State-wise list of Bank Holidays 2023 in India:

Andaman & Nicobar
Andhra PradeshArunachal PradeshAssamBihar
Chandigarh
Chhattisgarh
Dadra & Nagar HaveliDaman & DiuGoa
Gujarat
HaryanaHimachal PradeshJammu & KashmirJharkhand
Karnataka
KeralaLadakhLakshadweepMadhya Pradesh
Maharashtra
ManipurMeghalayaMizoramNagaland
DelhiOdisha
Puducherry
Punjab
Rajasthan
Sikkim
Tamil Nadu
Telangana
Tripura
Uttar Pradesh
Uttarakhand
West Bengal


Month-wise list of Bank Holidays 2023 in India

Bank Holidays in January 2023
Bank Holidays in February 2023Bank Holidays in March 2023Bank Holidays in April 2023
Bank Holidays in May 2023
Bank Holidays in June 2023
Bank Holidays in July 2023Bank Holidays in August 2023
Bank Holidays in September 2023
Bank Holidays in October 2023Bank Holidays in November 2023Bank Holidays in December 2023

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

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.

(For more informative articles on historical and upcoming events from around the world, please visit Indiatimes Events)

Bhupinder Singh

Bhupinder Singh serves as a Principal Executive in Content Management, specializing in SEO content related to trending financial news, net worth of celebrities, historic events, and art and culture. His passion for cricket shines through in his work and personal interests. In his free time, Bhupinder enjoys discussing cricket legends like MS Dhoni and Sachin Tendulkar, as well as following the IPL.

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