Bank Holiday Today: Are Banks Closed Today, Saturday, October 4? Here’s What the RBI Calendar Says

Bank Holiday Today: The holiday-shortened week comes to an end, giving people a chance to complete their pending financial tasks on Saturday, October 4. Banks were closed on Thursday for Gandhi Jayanti and Dussehra. Since these financial institutions also remain closed on two Saturdays every month, many are wondering whether today is a bank holiday.

Bank Holiday Today: Are Banks Closed Today?

Yes, banks will remain closed on Saturday, 4 October in the Gangtok region. As per the RBI Holiday calendar, banks will remain shut in the specific region on Saturday on the occasion of Durga Puja (Dasain).

Durga Puja, which is also known as Dashain, is an important religious festival for the Nepali community living in Sikkim. Hence, the state will observe bank holiday on the occasion on Saturday.

Apart from Sikkim, banks will remain open across the country. The Reserve Bank of India (RBI) has mandated bank holidays on every second and fourth Saturday of the month. As October 4 is the first Saturday of the month, banks will remain open across the country except in Sikkim region, where it is marked as a Holiday under the Negotiable Instruments Act.

Bank Holidays in October

Banks remained shut in the first week of October on several festive occasions, including Durga Puja, Dussehra, and Gandhi Jayanti. AS per the RBI calendar, there will be nearly 21 bank holidays in October, including those marked under the Negotiable Instruments Act.

The Reserve Bank of India (RBI) determines holidays for banks under the Negotiable Instruments Act, 1881. These holidays include public holidays, the second and fourth Saturdays of each month, as well as national, regional, and religious events. This calendar applies to all banks across the country.

Bank holidays can vary based on the state or region due to local festivals or events. While some holidays are observed nationwide, others are specific to certain areas. Customers need to be aware of these variations to plan their banking activities accordingly.

This month includes celebrations such as Dussehra, Diwali, Bhaidooj, and the birthday of Sardar Vallabhbhai Patel. Out of these 21 holidays, 15 are festival-related. Additionally, banks will remain closed on the second and fourth Saturdays and all Sundays. This results in a total of 18 days when banks will not be operational.

It's crucial to remember that bank holidays can differ from one city to another. Therefore, before planning any significant financial activities, it's advisable to verify the specific dates and occasions when banks are closed in your area.