The upcoming calendar month is going to be packed with a wide range of bank holidays as per the mandated list of leaves issued by the Reserve Bank of India (RBI). In total, there are 21 such holidays that can be expected next month, which are likely to see most banks closed.
However, these are broken up into state-wise celebrations.
This means that, except for a few days, the majority of these holidays are only applicable for a handful of cities and states at a time. Out of the 21 holidays, only 14 of them are RBI issued bank leaves. The other seven days are weekend leaves, which encompass Sundays, as well as the second and fourth Saturday of the month.
The RBI’s list of holidays falls into categories of state-wise celebrations, religious holidays and festival celebrations. The list of RBI mandated holidays for different banks are grouped under the categories of
- Holiday under Negotiable Instruments Act
- Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday and
- Banks’ Closing of Accounts
In October, the majority of holidays come under the Holiday under Negotiable Instruments Act classification. However, 1 October, the very first holiday on the list, comes under the Banks’ Closing of Accounts classification, which is a holiday only for banks located in Gangtok.
The first holiday on the list that falls under the ‘Holiday under Negotiable Instruments Act’ is set to happen on 2 October, in the form of Mahatma Gandhi Jayanti. This holiday is one of the few that is applicable to all states and cities that the RBI considered for its list of bank holidays next month.
The other big holiday that is set to take place and see a large majority of states participate is Durga Puja/Dasara/Dusshera (Vijaya Dashmi), on 15 October. This holiday will apply to all banks across India, except those located in the geographical location of Imphal and Shimla.
October is a festival season and the placement of these holidays for different banks is location-based. Except for the aforementioned two big holidays, the rest are sparse in nature, making the coming month manageable as far as banking business is concerned.
Distribution of October 2021 holidays among banks in India
1) 1 October – Half yearly closing of bank accounts (Gangtok)
2) 2 October – Mahatma Gandhi Jayanti (All states)
3) 3 October – Sunday
4) 6 October – Mahalaya Amavasya (Agartala, Bengaluru, Kolkata)
5) 7 October – Mera Chaoren Houba of Lainingthou Sanamahi (Imphal)
6) 9 October – Second Saturday
7) 10 October – Sunday
8) 12 October – Durga Puja (Mahasaptami) (Agartala, Kolkata)
9) 13 October – Durga Puja (Mahaashtami) (Agartala, Bhubaneswar, Gangtok, Guwahati, Imphal, Kolkata, Patna, Ranchi)
10) 14 October – Durga Puja/Dussehra (Mahanavami)/Ayutha Pooja (Agartala, Bengaluru, Chennai, Gangtok, Guwahati, Kanpur, Kochi, Kolkata, Lucknow, Patna, Ranchi, Shillong, Srinagar, Thiruvananthapuram)
11) 15 October – Durga Puja/Dasara/Dussehra (Vijaya Dashami) / (All Banks except those in Imphal and Shimla)
12) 16 October – Durga Puja (Dasain) / (Gangtok)
13) 17 October – Sunday
14) 18 October – Kati Bihu (Guwahati)
15) 19 October – Id-E-Milad/Eid-e-Miladunnabi/Milad-i-Sherif (Prophet Mohammad’s Birthday)/Baravafat / (Ahmedabad, Belapur, Bhopal, Chennai, Dehradun, Hyderabad, Imphal, Jammu, Kanpur, Kochi, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Srinagar, Thiruvananthapuram)
16) 20 October – Maharishi Valmiki’s Birthday/Lakshmi Puja/Id-E-Milad (Agartala, Bengaluru, Chandigarh, Kolkata, Shimla)
17) 22 October – Friday following Eid-i-Milad-ul-Nabi (Jammu, Srinagar)
18) 23 October – 4th Saturday
19) 24 October – Sunday
20) 26 October – Accession Day (Jammu, Srinagar)
21) 31 October – Sunday