Bank Holiday Alert: Are All Banks Across India Closed Tomorrow?

While there are reports saying banks are closed for three days including today and tomorrow, not all the states in India will have a holiday on April 30. According to the information available on the Reserve Bank of India, all the banks across Bengaluru will remain closed tomorrow in observance of Akshaya Tritya.

There are four consecutive bank holidays starting April 26, except April 28. However, banks are not closed for all these days in all states or regions. These holidays are declared under the Holiday under Negotiable Instruments Act. For instance, even today there is a bank holiday, but only for the ones in Shimla on account of Parshuram Jayanti. On May 1 too, which is observed as Maharashtra Day, not all the regions will have a bank holiday.

Consecutive holidays

April 26: It was the fourth Saturday of the month and as per RBI guidelines banks are closed on the second and the fourth Saturday of every month.

April 27: It was a Sunday and banks are closed on Sunday.

April 29: Only banks in Shimla are closed in observance of Parshuram Jayanti

April 30: Bengaluru will have a bank holiday on account of Akshaya Tritya, a day which is considered auspicious for gold-buying

This adds to the numerous bank holidays already observed in April due to many state-specific festivals, making it a month with significant banking disruptions. In total, Bengaluru banks were closed for five days this month, excluding the regular Sunday and alternate Saturday closures.

The RBI categorises holidays under three brackets, namely Holiday under Negotiable Instruments Act, Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts.

Customers are reminded that while physical branches remain closed, all digital banking services, ATMs, and mobile banking platforms will continue to function normally.