Banks to remain closed on July 17, 2024: Here’s Why?

In July 2023, nationalised and private banks across India, including both public and private sectors, will observe several holidays impacting their operations. These closures are scheduled under the provisions of the Negotiable Instruments Act and are aimed at respecting cultural and historical observances

Muharram and U Tirot Day Observance

All banks, both public and private, will be closed on July 17 to observe Muharram, which marks the start of the sacred month in the Muslim calendar.

In Meghalaya, U Tirot Day will also be observed on the same day to pay tribute to the freedom fighter U Tirot Singh.

Upcoming Bank Holidays in July, Including Weekends

In addition to July 17, banks will also be closed on the following dates due to scheduled holidays and weekends:

Sunday - July 21

Fourth Saturday - July 27

Sunday - July 28

Impact on Banking Services

The Reserve Bank of India (RBI) has declared these holidays according to the rules of the Negotiable Instruments Act. Some services, such as issuing cheques and promissory notes, will not be accessible on these dates.

However, online banking and mobile banking services will remain operational. ATM services will also continue to facilitate cash withdrawals as usual.

These closures are scheduled to ensure that banking operations adhere to regulatory standards while accommodating the observance of important cultural and historical events across India.