Annual Bank Closing
In the forthcoming month of April 2024, most states across India are gearing up for the annual closing of banks, slated for April 1. However, exceptions to this closure include Chandigarh, Himachal Pradesh, Meghalaya, Mizoram, Sikkim, and West Bengal.
Commencement of New Financial Year
April 1 marks the onset of the new financial year 2024-25, triggering a flurry of activities within banks as they strive to wrap up the fiscal year-end formalities. During this phase, regular banking services may experience interruptions, with staff members often putting in overtime to fulfill necessary obligations.
Variations in Closure Period
In April 2024, banks across India will observe a total of 12 closure days. However, the exact number of closure days varies from state to state, in accordance with the calendar provided by the Reserve Bank of India (RBI). These closures encompass public holidays, regional holidays, as well as weekends.
Determining Holiday Schedule
The holiday calendar for banks is jointly determined by the RBI and respective state governments, taking into account various factors including public demand and local customs prevalent in different regions.
Detailed List of April 2024 Bank Holidays
April 5: Banks in Telangana and Jammu will remain closed in observance of Babu Jagjivan Ram’s Birthday/Jumat-ul-Vida.
April 9: Gudhi Padwa/Ugadi Festival/Telugu New Year’s Day/Sajibu Nongmapanba (Cheiraoba)/1st Navratra will be celebrated in Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Manipur, Goa, Jammu, and Srinagar, leading to bank closures.
April 10: Tripura, Assam, Manipur, Jammu, and Srinagar will observe bank closures due to the Bohag Bihu/Cheiraoba/Baisakhi/Biju festivals.
April 15: Offline banking operations will be suspended in Assam and Himachal Pradesh owing to Bohag Bihu and Himachal Day.
April 16: Banks in several states including Gujarat, Maharashtra, Madhya Pradesh, Orissa, Chandigarh, Andhra Pradesh, Telangana, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, and Himachal Pradesh will remain closed on account of Ram Navami.
April 20: Branches of banks in Tripura will be shut for the Garia Puja festival.
Regular Closures
Apart from the aforementioned holidays, banks will remain closed on the second and fourth Saturdays of April, falling on the 13th and 27th respectively. Additionally, Sundays on April 7, 14, 21, and 28 will also witness bank closures.
Continued Access through Online Banking and ATMs
Despite physical closures, customers can still avail themselves of online banking facilities and ATMs for essential transactions during both national and state holidays. However, for tasks requiring direct assistance from bank staff, customers should be mindful of the holiday schedule and plan their visits accordingly.
Regional Discrepancies
While this list offers a general overview, it’s essential to acknowledge the possibility of regional variations. Therefore, it’s advisable to verify the holiday schedule with your specific bank branch or through official channels for accurate and up-to-date information.
RBI’s Bank Holiday List for 2024
The Reserve Bank of India releases an annual list of bank holidays, taking into consideration factors such as national and state holidays, cultural or religious observances, operational necessities, and governmental announcements. This information is disseminated through official channels to ensure widespread awareness among banks and financial institutions.
Uninterrupted Online Banking Services
Notably, online banking services will remain accessible nationwide, even during closures of private or public sector banks. Therefore, individuals must remain vigilant regarding scheduled bank holidays to effectively plan their visits to nearby branches.
