Bank Holidays in July 2024, India

Banks throughout India will be closed for a total of 12 days in July 2024 due to a combination of national and regional holidays. It is recommended that you confirm the specific holidays observed before visiting a bank during this period, as they may differ by location.

The Reserve Bank of India (RBI) has designated the following dates as July bank holidays under the Negotiable Instruments Act: July 3, 6, 8, 9, 16, and 17. This suggests that transactions involving promissory notes and checks may not be accessible these days.

Here’s the information on bank holidays in July 2024:

a. Sundays- July 7th, 14th, 21st, and 28th

b. Second and fourth Saturdays- July 13th and 27th. This pattern of closures is consistent throughout the year, with the exception of December and January, when there may be only one or no closures on the second or fourth Saturday due to holiday season business requirements.

c. Bank holidays in July 2024 Meghalaya- On the 3rd of July, the Pnar community in Meghalaya primarily observes a festival known as Behdienkhlam. The event includes a prayer to ward off malevolent spirits and diseases and ensure a prosperous harvest.

d. Bank holidays in July 2024 Mizoram- The largest women's organisation in Mizoram is MHIP, which stands for Mizo Hmeichhe Insuihkhawm Pawl, which translates to "uniting Mizo women." The organization's founding anniversary is commemorated on the 6th of July in Mizoram.

e. Bank holidays in July 2024 Manipur- Kang, also referred to as Kang Chingba, is a vibrant festival observed in Manipur on the 8th of July. In the Manipuri tradition, it is reminiscent of the Ratha Yatra festival in Puri, Odisha.

f. Bank holidays in July 2024 Sikkim- On the 9th of July, the Buddhist community in Sikkim celebrates Drukpa Tse-zi, also known as Drukpa Teshi, a festival of great significance. The festival honours the auspicious occasion of Gautama Buddha's inaugural sermon.

g. Bank holidays in July 2024 Uttarakhand- The Harela festival in Uttarakhand, celebrated on the 16th of July, is a vibrant celebration that signals the commencement of a new agricultural cycle and the arrival of the monsoon. Harela translates to "day of green" in Hindi.

h. Muslims worldwide commemorate the martyrdom of Imam Hussein, the grandson of Prophet Muhammad, during the Battle of Karbala on Muharram, a solemn occasion on the 17th of July. Banks will be closed in Agartala, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, and Shimla.

Oversight of RBI:

The Reserve Bank of India (RBI) is responsible for ascertaining bank holidays in India. There are numerous categories into which these holidays can be classified:

i) The holidays pertain to the regulations that govern negotiable instruments, including promissory notes and checks, as outlined in the Negotiable Instruments Act. Individual banking transactions that involve these instruments may be unavailable these days.

ii) On days when banks are closed for RTGS transactions, they are referred to as Real-Time Gross Settlement (RTGS) holidays. Money transfers between banks are executed instantly through the Real Time Gross Settlement (RTGS) system.

iii) Each bank designates specific days for internal operations, including account reconciliation and annual closings, known as "account closing days."

Understanding these routine closures and the scheduled holidays will help you organise your banking activities effectively based on the bank holidays in July 2024.