Long weekend alert: Bank holidays and Janmashtami 2024 celebrations

Long weekend alert: Due to a series of holidays, there will be a long weekend from Saturday, August 24, to Monday, August 26. The weekend begins with a bank holiday on Saturday, August 24. This is followed by Sunday, August 25, a regular weekend day.
On Monday, August 26, Janmashtami, a significant Hindu festival celebrating the birth of Lord Krishna, will be observed. As a result, banks and many businesses may remain closed on this day as well.
Bank holiday on August 24 (Saturday): This marks the fourth Saturday of the month. As per standard banking holidays, banks across the country are closed on second and fourth Saturdays.
Bank holiday on August 25 (Sunday): A regular weekend day observed nationwide. Most businesses, including banks, are closed on Sunday.
Bank holiday on August 26 (Monday): This day is celebrated as Krishna Janmashtami, a major Hindu festival commemorating the birth of Lord Krishna.

During the long weekend from August 24 to August 26, banks will be closed in several states, including Gujarat, Orissa, Chandigarh, Tamil Nadu, Uttarakhand, Sikkim, Andhra Pradesh, Telangana, Rajasthan, Jammu, Uttar Pradesh, West Bengal, Bihar, Chhattisgarh, Jharkhand, Meghalaya, Himachal Pradesh, and Srinagar. This closure is in observance of the fourth Saturday of the month and Krishna Janmashtami on August 26.
However, banks will remain open in states like Tripura, Mizoram, Maharashtra, Karnataka, Assam, Manipur, Arunachal Pradesh, Kerala, Nagaland, New Delhi, and Goa.
Customers should know that bank holidays vary by state based on regional requirements. To avoid last-minute confusion and handle emergencies effectively, it is advisable to check the complete list of holidays with your nearest bank branch.
In India, the Reserve Bank of India (RBI) oversees the determination of bank holidays, which are categorized as follows:
Negotiable Instruments Act Holidays: These are days when regulations affecting negotiable instruments, such as checks and promissory notes, are in effect. Certain banking transactions involving these instruments may not be available these days.
Real-Time Gross Settlement (RTGS) Holidays: These refer to days when banks are closed for RTGS transactions, which facilitate instant money transfers between banks.
Account Closing Days: Each bank designates specific days for internal operations, including account reconciliation or annual closings. On these days, banks may be closed for these purposes.