Bank Holidays in August 2023: Banks To Remain Closed for 14 Days Next Month; Check Complete Dates of Bank Holidays

Mumbai, July 31: Banking services are likely to take a hit next month as banks are most likely to remain closed for a period of 14 days in August 2023. All public and private banks across the country will stay shut for a total of 14 days in the month of August 2023 starting tomorrow, August 1. Out of the 14 days, banks will be closed for services on all Sundays and second and fourth Saturdays of the month. The 14-day holiday list also includes several festivals such as Independence Day, Onam, and Raksha Bandhan among others.

Besides national holidays, banks will remain shut even on regional holidays. It must be noted that the Reserve Bank of India (RBI) has categorized holidays into three brackets. These include Holidays under the Negotiable Instruments Act, Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holidays, and on occasion of Banks' Closing of Accounts. Bank Holidays in April 2023: Banks To Remain Closed for 15 Days Next Month; Check Complete Dates of Bank Holidays.

List of Bank Holidays in August 2023:

The list of 14 holidays in the month of August 2023 includes Tendong Lho Rum Faat, Independence Day, Parsi New Year, Tithi of Srimanta Sankardeva, Onam, Thiruvonam, and Raksha Bandhan among others. The 14 holidays include eight festivals, six days of Sundays and the second and fourth Saturdays. Bank Holidays This Week: Banks To Remain Closed for Five Days From June 26 to July 2; Check Complete List of Bank Holiday Dates.

Meanwhile, the United Forum of Bank Unions (UFBU) is seeking a five-day workweek for banks. At present, banks are functioning on all days of the month except national holidays and banks closing accounts. Bank employees get holiday only on Sundays, and the second and fourth Saturdays of the month.

(The above story first appeared on LatestLY on Jul 31, 2023 08:35 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).