Is August 1 a public holiday? Banks will remain closed for 18 days in August; Check list
Holidays for financial institutions in August 2022: A whole new month is about to begin starting tomorrow, and with that, there will likely be a whole new set of financial institution holidays which may have results, place lenders throughout India will likely be closed for several days. The Reserve Financial Institution of India, or RBI, has already released a list for holidays of financial institutions in august 2022. Financial institution holidays will come into effect depending on the record.
Be aware that many bank holidays are regional and differ from state to state and financial institution to financial institution. There are 18 bank holidays in August, six of which are weekends. There are 13 regional holidays where lenders in particular regions remain closed due to events in those specific regions. If we add the 2 classes, there will probably be 19 bank holidays. Nevertheless, Patriot’s Day, which is a regional public holiday for Imphal, falls on August 13, which is the second Saturday of the month when all banks are closed. Because of this, the August 13 bank holiday collides.
The Reserve Bank notified the holidays under three tranches – the Negotiable Instruments Act, holidays, real-time gross settlement holidays and bank account closures. As advised by RBI, all banks as well as the general public sector, non-public sector, international banks, cooperative banks and regional banks across the country will remain closed during these notified holidays. A holiday is effective due to the “Bank Accounts Closed” on April 1, when the majority of banks across the country remain closed, while the “Negotiable Devices Act Holiday” category sees the best variety of holidays.
Here is the complete list of bank holidays in August 2022 according to the RBI list (start Of August 1, 2022)
List of holidays according to the Holidays Act under the negotiable instruments:
August 1: Drukpa Tshe-zi — Gangtok
August 8: Muharram (Achoura) — Jammu, Srinagar
August 9: Muharram (Ashoora) – Agartala, Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur and Ranchi
August 11: Raksha Bandhan — Ahmedadabad, Bhopal, Dehradun, Jaipur and Shimla
August 12: Raksha Bandhan – Kanpur and Lucknow
August 13: Patriots Day — Imphal
August 15: Independence Day — Across India
August 16: Parsi New Yr (Shahenshahi) – Belapur, Mumbai and Nagpur
August 18: Janmashtami — Bhubaneswar, Dehradun, Kanpur and Lucknow
August 19: Janmashtami (Shravan Vad-8)/ Krishna Jayanthi — Ahmedabad, Bhopal, Chandigarh, Chennai, Gangtok, Jaipur, Jammu, Patna, Raipur, Ranchi, Shillong and Shimla
August 20: Sri Krishna Ashtami — Hyderabad
August 29: Tithi by Srimanta Sankardeva — Guwahati
August 31: Samvatsari (Chaturthi Paksha)/Ganesh Chaturthi/ Varasiddhi Vinayaka Vrata/ Vinayakar Chathurthi — Ahmedabad, Belapur, Bangalore, Bhubaneswar, Chennai, Hyderabad, Mumbai, Nagpur and Panaji
Other than that, there are seven weekends, including the one coinciding with Patriot’s Day, when banks will be closed across the country. These are mentioned under
List of weekend holidays
August 7: first Sunday
August 13: second Saturday + Patriots Day
August 14: second Sunday
August 21: Third Sunday
August 27: fourth Saturday
August 28: fourth Sunday
Thus, if you have a work associated with a financial institution, it is essential to contact your home department to justify the vacation of the financial institution in August this year according to your region to avoid any problems.