Bank Holiday Alert: Monday, September 16, 2024 – Banks Closed Across Various States

India’s banking sector is set to observe multiple holidays in September 2024, including a crucial closure on Monday, September 16, due to the celebration of Eid-e-Milad. Both public and private sector banks will remain closed across several states. As a part of the broader holiday schedule, September is packed with 15 bank holidays, covering Sundays, second and fourth Saturdays, and other festive occasions.

Let’s take a detailed look at the reasons for the upcoming bank closures and the comprehensive list of holidays in September.

Why are Banks Closed on September 16?

Banks across several states will be closed on Monday, September 16, 2024, to mark the observance of Eid-e-Milad, an important festival for the Muslim community. Eid-e-Milad, also known as Mawlid or Nabi Day, commemorates the birth anniversary of Prophet Muhammad. On this day, Muslims across the world organize religious gatherings, special prayers, and community services that revolve around the teachings of Prophet Muhammad.

Comprehensive Bank Holidays List for September 2024

Here’s a breakdown of all the bank holidays for September 2024, including the reasons for the closures and the states where they will be observed:

RBI’s Bank Holiday Guidelines for September

The Reserve Bank of India (RBI) has issued a detailed holiday calendar for September 2024. These holidays are categorized into National Holidays, State-Specific Holidays, and Weekend Holidays (Second Saturdays and Sundays). It’s crucial to note that banking services will remain unavailable in the affected states on the specified dates. However, online banking services, such as internet banking, mobile banking, and UPI transactions, will remain fully operational throughout these holidays.

Why Do Banks Have So Many Holidays in September?

India, being a diverse country, celebrates various festivals that differ from state to state. As a result, banks observe these holidays in accordance with the local traditions and cultural events. For instance, states like Kerala observe holidays on religious occasions like Onam, while Jammu and Kashmir observe a holiday on Maharaja Hari Singh Ji’s birthday. Additionally, the Second Saturday and Fourth Saturday of every month are regular bank holidays, along with the Sundays.

Prepare Ahead for Bank Holidays

Given the extensive list of holidays in September, customers are advised to plan their banking activities accordingly. ATM withdrawals, online banking, and other digital banking services like NEFT, RTGS, and UPI will remain operational. However, services that require branch visits, such as cheque deposits, may face delays.

Make sure to keep the following tips in mind:

• Use digital banking: Most banking services can be done online, reducing the need to visit a branch.
• Check local bank branch closures: Verify whether your state or city is observing a holiday using the RBI list.
• Prepare in advance: If you need in-person banking services, complete them before the holidays begin.