India is a diverse land. What is relevant in the North may not be the same for the South. When it comes to deciding holidays for banks, the decision makers have to be very strategic to ensure that the least number of working days are wasted. They also need to keep in mind the important festivals as they mean a lot to everyone.
1. Holiday under the Negotiable Instruments Act
2. Holiday under the Negotiable Instruments Act and the Real-Time Gross Settlement Holiday
3. Banks' Closing of Accounts
At any given time, the Central Government is the main decision maker of bank holidays in India. The holidays are chosen with the intention to draw attention of the employees and the public towards the days and events of national importance. While the Central Government has the upper hand to decide the National Holidays, the regional holidays are decided by the State or the union territorial government.
In this post, we have provided the full list of bank holidays in 2023 for your convenience:
Bank Holidays in India in 2023
In India, the second and fourth saturday of the month are also considered as bank holidays. The full list of dates are given below: