As the auspicious occasion of Raksha Bandhan approaches, a unique dilemma has emerged among many individuals. The question of whether to celebrate Raksha Bandhan on August 30 or 31, or even both days, has left many perplexed. Adding to the confusion, different regions will experience bank closures on distinct days. The Reserve Bank of India’s (RBI) holiday calendar designates both August 30 and 31 as Raksha Bandhan, but the closures vary based on geographical locations.
RBI’s Role in Setting Bank Holidays
The RBI, as the authoritative body regulating the banking sector in India, plays a pivotal role in determining the schedules and holidays for the entire year. Bank holidays in the country encompass not only mandatory holidays set by the banking sector but also additional holidays earmarked for festivals and special occasions sanctioned by different states.
Varying Holiday Schedules Across States
In August, banks nationwide are slated to observe a total of 14 holidays, which include all Sundays as well as the second and fourth Saturdays. However, it’s important to note that these holidays may differ depending on the state in question. This diversity in holiday schedules further contributes to the confusion surrounding Raksha Bandhan celebrations and bank closures.
Navigating Bank Closures for Raksha Bandhan
The month of August commences with Tendong Lho Rum Faat on August 8, culminating in the celebration of Raksha Bandhan on August 31. While these holidays are applicable to all banks across India, certain states will deviate from this pattern. To clarify, here’s a breakdown of the cities and states where Raksha Bandhan Bank Holiday will be observed on August 30 and August 31.
Planning Ahead for Bank-Related Activities
For those with impending visits to banks for essential tasks, it’s advisable to review the list of holidays and meticulously plan your activities in advance. Apart from weekends, August boasts a total of 8 bank holidays as per the Reserve Bank’s calendar. These holidays are categorized under the Negotiable Instruments Act of 1881 by the central government.
Uninterrupted Banking Services During Holidays
While bank closures might alter routine activities, individuals need not fret. Essential banking services such as ATMs, cash deposits, online banking, and mobile banking will continue to operate seamlessly, ensuring minimal disruption to daily financial transactions during the holiday period.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald
