Bank holidays this week: After all public and private banks across India, including the State Bank of India (SBI), enjoyed a relaxed workweek starting April 14, the Indian banking sector is in for a busy week ahead.
This week, which begins today on April 21 (Monday), comes with no leaves or festive offs for the bankers, other than the Reserve Bank of India (RBI) mandated fourth Saturday and Sunday holiday.
As the month nears its end, there are only two more holidays that the bankers can enjoy. However, both these holidays are regional, and therefore, banks across India will not be affected by the holiday.
Although physical bank branches will remain closed on holidays, customers can continue to use digital and net banking services such as UPI, ATM services—unless otherwise notified by the bank (typically for scheduled maintenance).
However, the Negotiable Instruments Act deals with the issuance of cheques and promissory notes and transactions involving these instruments will not be available during the holidays.
You can also avail yourself of other banking services, such as fixed deposit or recurring deposit, online during these holidays.
The RBI categorises bank holidays into three types:
Apart from the fixed holidays, the RBI gives bank holidays on the basis of Holidays Under Negotiable Instruments Act, which vary from state to state.
Holidays under this Act are given on the basis of importance of an occasion in a particular state or region.
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