October Bank Holidays: Banks to remain shut for 16 days in October; check when, where, other details
October Bank Holidays: For all those who work in banks on a regular schedule, even two or three day bank holidays offer a much-needed break from the daily grind. Usually Bank holidays are mostly associated with festivals, cultural events, parades, etc.
As the month of September is commencing soon with only 3 days left to welcome the month of October also known as festive month, it’s a chance to relax, recharge and spend quality time with your loved ones.
The arrival of month of October is commences arrival of the festive month. October is indeed a month filled with festivals and celebrations in many parts of the world. The specific festivals observed in October can vary widely depending on the country, culture, and religious traditions. During this month, if you are planning to complete your long-pending crucial paperwork at bank, you must be aware of the upcoming bank holidays in October, including the second and fourth Saturdays as well as Sundays. According to the Reserve Bank of India's bank holiday list, banks will be shut for up to 16 days in October in various states and districts across Nation
As per the list of bank holidays by the Reserve Bank of India (RBI), banks will be closed for 16 days in various cities and districts in the October festive month.
October 1, 2023 (Sunday) - Both private and public banks will remain closed across the Nation
October 2, 2023 (Monday) – On the occasion of Mahatma Gandhi Jayanti all banks will be shut across Nation
October 8, 2023 (Sunday) - Both private and public banks will remain closed across the nation
October 14, 2023 (Saturday) - Banks to be closed as October 14 is Second Saturday
October 15, 2023 (Sunday) - Both private and public banks will remain closed across the Nation.
October 18, 2023 (Wednesday) - Bank holiday in Guwahati, Imphal, Kolkata on the occasion of Kati Bihu
October 19, 2023 (Thursday) - Bank holiday in Gujarat on the occasion of Samvatsari Utsav
October 21, 2023 (Saturday) – Bank holiday in various districts and cities on occasion of Durga Puja- Maha Saptami
October 22, 2023 (Sunday) - Both private and public banks will remain closed across the nation
October 23, 2023 (Monday) – Bank holiday in various districts and cities on occasion of Dussehra (Maha Navami)/Ayudha Pooja/Durga Puja/Vijaya Dasami
October 24, 2023 (Tuesday) - Bank holiday in various districts and cities on occasion of Dussehra (Vijaya Dashami)/Durga Puja
October 25, 2023 (Wednesday)- Bank holiday in Sikkim on the occasion of Durga Puja (Dasain)
October 26, 2023 (Thursday)- Bank holiday in Gangtok and Jammu and Srinagar on the occasion of Durga Puja
October 27, 2023 (Friday) - Bank holiday in Sikkim on the occasion of Durga Puja (Dasain)
October 28, 2023 (Saturday) – Banks to be closed as October 28 is Second Saturday
October 29, 2023 (Sunday) - Both private and public banks will remain closed across the nation
October 31, 2023 (Tuesday): Bank holiday in various districts and cities on occasion of Sardar Patel's birth anniversary
The Reserve Bank has notified the holidays under three brackets — the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks’ Closing of Accounts.
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On the above mentioned holidays, although the banks will be closed, the online banking services will be active which will allow customers to access their bank accounts and perform various transactions at any time, day or night, from virtually anywhere with an internet connection.
As the month of September is commencing soon with only 3 days left to welcome the month of October, it is very important and crucial to note that customers can exchange or deposit Rs 2,000 currency notes only till September 30.
Notably, Reserve Bank of India on May 19 announced to withdraw Rs 2,000 currency notes from circulation. However, the notes will continue to be legal tender till September 30. The RBI said exchange facility for Rs 2,000 bank notes up to Rs 20,000 at a time would be available from May 23. About 89 per cent of the Rs 2,000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of four-five years.
- With inputs from agencies
