Bank will close every Saturday from Today
Demand for a five-day work week is long-standing, especially from public sector banks. IBA represents a wide range of banks in India including public and private banks in India, foreign banks in India, cooperative banks, regional rural banks and all Indian financial institutions.
According to the Union Finance Ministry’s confirmation in Parliament today, the Indian banking sector has formally proposed to declare all Saturdays as official holidays. Bank in India not open Saturday from Today.
Responding to queries on Indian Banks Association (IBA) seeking implementation of five-day working week, Minister of State for Finance Bhagwat Karad confirmed that IBA has submitted a proposal in this regard. Since 2015, banks in India observe public holidays on the second and last four Saturdays of every month.
Demand for a five-day work week is long-standing, especially from public sector banks. IBA represents a wide range of banks in India including public and private banks in India, foreign banks in India, cooperative banks, regional rural banks and all Indian financial institutions. The banking sector employs 1.5 million persons.
Bank Holidays In December 2023: Banks Will Again Closed 18 Days
In December, bank branches in several parts of the country will remain closed for an additional 11 days due to certain holidays as per Reserve Bank of India’s (RBI) holiday calendar. Bank Holidays in December 2023: Banks will again closed 18 days from December 1.
Most banks are closed for a total of 18 days in December, including second and fourth Saturdays and all Sundays. However, these holidays are not uniformly applied across the country and may vary from region to region as some holidays are observed as public holidays nationwide and others are considered local holidays.
Bank Holidays Types:
RBI classifies bank holidays into three categories:
Holidays under the Negotiable Instruments Act
Holidays under the Negotiable Instruments Act and Real Time Total Settlement Holidays.
Bank holidays in December 2023:
State Inauguration Day/Local Faith Day: December 1
Sunday: December 3, 2023
Feast of St. Francis Xavier: December 4
Saturday: December 9, 2023
Sunday: December 10, 2023
Pa-Togan Nengminja Sangma: December 12
Losong/Namsoong: December 13
Losong/Namsoong: December 14
U SoSo Thom’s death anniversary: December 18
Goa Liberation Day: December 19
Saturday: December 23, 2023
Sunday: December 24, 2023
Christmas: December 25
Celebration of Christmas: December 26
Christmas: December 27
U Kiang Nangba: December 30
Sunday: December 31, 2023.
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