RBI Announces November 2024 Bank Holiday Schedule
The Reserve Bank of India (RBI) has released its official bank holiday calendar for November 2024, outlining a total of 12 days when banking services will be unavailable across the country. These holidays are primarily attributed to a range of regional festivals, cultural celebrations, and other significant observances that vary from state to state. In addition to state-specific holidays, the schedule also includes the regular Sundays, as well as the second and fourth Saturdays of the month. To avoid any disruptions to your banking transactions, it is essential to consult the holiday calendar and plan your activities accordingly.
November 2024 Bank Holidays:
November 1 (Friday):
Banks in various states, including Tripura, Karnataka, Uttarakhand, Jammu & Kashmir, Maharashtra, Meghalaya, Sikkim, and Manipur, will be closed for the observances of Deepavali, Kut, and Kannada Rajyotsava.
November 2 (Saturday):
In regions like Gujarat, Maharashtra, Karnataka, Rajasthan, Sikkim, Uttarakhand, Uttar Pradesh, and others, banks will remain closed to mark Diwali, Laxmi Puja, and Govardhan Pooja. Despite this day being the first Saturday of the month (typically a working day), it will be a holiday in these states.
November 3 (Sunday):
As usual, banks will observe the regular Sunday holiday across all states.
November 7 (Thursday):
In Bengal, Bihar, and Jharkhand, banks will close for Chhath (Evening Arghya), a major regional festival observed in these states.
November 8 (Friday):
Banks in Bihar, Jharkhand, and Meghalaya will be closed for Chhath (Morning Arghya) and the Wangala Festival.
November 9 (Saturday):
The second Saturday of November will be a national holiday for all banks in India.
November 10 (Sunday):
Banks will close for the regular Sunday holiday nationwide.
November 15 (Friday):
A wide range of states, including Mizoram, Maharashtra, Madhya Pradesh, Odisha, Chandigarh, Uttarakhand, Telangana, Arunachal Pradesh, Rajasthan, Jammu, Uttar Pradesh, Nagaland, Bengal, New Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh, and Srinagar, will observe holidays for Guru Nanak Jayanti, Karthika Purnima, and Rahas Purnima.
November 17 (Sunday):
Another nationwide Sunday holiday will be observed.
November 18 (Monday):
Banks in Karnataka will remain closed for Kanakadasa Jayanti, a regional holiday celebrated in the state.
November 23 (Saturday):
In Meghalaya, banks will close for Seng Kutsnem, a cultural festival, which also coincides with the fourth Saturday of the month.
November 24 (Sunday):
Banks will observe the regular Sunday holiday once again.
RBI’s Classification of Bank Holidays:
- Negotiable Instruments Act Holidays: These holidays are related to regional festivals and significant cultural events observed in various states.
- RTGS (Real Time Gross Settlement) Holidays: These are specific days when RTGS services will not be available, typically impacting large transactions.
- Banks’ Closing of Accounts: These holidays are reserved for the year-end account reconciliation process and related financial activities.
To ensure smooth and uninterrupted banking, it is highly recommended to familiarize yourself with the holiday schedule and plan your financial activities in advance for November 2024. This will help you avoid any inconveniences due to bank closures.