Lenders across all private and public sectors of the country are set to enjoy another month full of holidays as the festive season is kicking in slowly. While there were 14 bank holidays in July, there are as many as 18 Bank Holidays in August
The month of August is going to start within a few days and this means that there will be a new set of bank holidays in August that will come into effect as per the calendar prepared by the Reserve Bank of India. The RBI prepares a calendar for each month where bank holidays are mentioned.
It must be noted that many bank holidays are regional and may differ from state to state and bank to bank. There are 18 bank holidays in August, as mentioned before, out of which six are weekend leaves. On the other hand, there are 13 regional holidays whereby lenders in some specific areas remain closed due to occasions in that particular areas. If we add up the two categories, there will be 19 bank holidays. However, Patriot’s Day, which is a regional holiday for Imphal, falls on August 13, which is the second Saturday of the month when all banks are closed. Therefore, the bank holiday on August 13 is clashing, which means there are 18 bank holidays in August .
The RBI fixes the bank holidays each year under three categories, including the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks’ Closing of Accounts. Among these, the ‘Holiday under Negotiable Instruments Act’ categorisation sees the highest number of holidays. Banks across the country are closed on August 15, which falls on a Monday next month.
List of Leaves as per the Holiday Under Negotiable Instruments Act:
August 1: Drukpa Tshe-zi — Gangtok
August 8: Muharram (Ashoora) — Jammu, Srinagar
August 9: Muharram (Ashoora) — Agartala, Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur and Ranchi
August 11: Raksha Bandhan — Ahmedadabad, Bhopal, Dehradun, Jaipur, and Shimla
August 12: Raksha Bandhan — Kanpur, and Lucknow
August 13: Patriot’s Day — Imphal
August 15: Independence Day — All over India
August 16: Parsi New Year (Shahenshahi) — Belapur, Mumbai, and Nagpur
August 18: Janmashtami — Bhubaneswar, Dehradun, Kanpur and Lucknow
August 19: Janmashtami (Shravan Vad-8)/ Krishna Jayanthi — Ahmedabad, Bhopal, Chandigarh, Chennai, Gangtok, Jaipur, Jammu, Patna, Raipur, Ranchi, Shillong and Shimla
August 20: Sri Krishna Ashtami — Hyderabad
August 29: Tithi of Srimanta Sankardeva — Guwahati
August 31: Samvatsari (Chaturthi Paksha)/Ganesh Chaturthi/ Varasiddhi Vinayaka Vrata/ Vinayakar Chathurthi — Ahmedabad, Belapur, Bengaluru, Bhubaneswar, Chennai, Hyderabad, Mumbai, Nagpur and Panaji
Apart from this, there are seven weekend leaves, including the one clashing with Patriot’s Day, where banks will be closed all across the country. These are mentioned below
List of Weekend Leaves
August 7: First Sunday
August 13: Second Saturday + Patriot’s Day
August 14: Second Sunday
August 21: Third Sunday
August 27: Fourth Saturday
August 28: Fourth Sunday .