Bank Holidays in October 2024 in India

Knowing bank holidays in October 2024 can help you plan your banking activities effectively and avoid last-minute hassles. Here is a list of bank holidays in October 2024, which could be helpful to plan your banking activities. 

Bank Holidays in October 2024

Apart from the specified bank holidays, it’s important to note that banks may observe additional holidays based on state government regulations and local festivals. Therefore, it’s advisable to check with your bank authorities or local branches for any specific holidays that may apply in your region.

All About Bank Holidays in India

Bank holidays in India can be classified into two main types: national holidays and government holidays. The country observes three national holidays: Republic Day, Independence Day, and Mahatma Gandhi Jayanti. On national holidays, also known as gazetted holidays, banks and financial institutions shut their operations nationwide.

Government holidays are further divided into state government bank holidays and central government bank holidays. While central government holidays are commonly observed across the country, state government holidays differ from one state to another. For instance, Maharashtra Day is a bank holiday in Maharashtra, Haryana Day in Haryana, etc. Additionally, each state in India has its own set of regional festivals and holidays, contributing to the diversity of the banking holiday calendar. 

Throughout the year, India has a wide range of banking holidays, which include national holidays, state-specific festivals, and significant observances. The Reserve Bank of India (RBI) designates certain holidays under the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays, and the Banks’ Closing of Accounts. 

It is also important to note that banks are also closed on the second and fourth Saturdays of each month, along with Sundays, as part of the regular weekly holidays. On these designated holidays, banks suspend their operations, meaning physical banking services are not available.

However, modern digital banking solutions make it convenient to manage financial transactions during holidays. Online banking platforms, mobile apps, and digital payment methods like UPI, IMPS, and net banking remain accessible, allowing users to perform various financial tasks seamlessly.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.