Financial institution Holidays August 2023: Banks will likely be closed for fourteen days within the month of August this 12 months. Out of those, banks will likely be shut on all Sundays in addition to second and fourth Saturdays. The Reserve Financial institution of India (RBI) has positioned the vacations beneath three brackets- Vacation beneath the Negotiable Devices Act; Holidays beneath the Negotiable Devices Act and Actual-Time Gross Settlement Holidays; and Banks’ Closing of Accounts.
The eight financial institution holidays embody Tendong Lho Rum Faat, Independence Day, Parsi New Yr (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam, Raksha Bandhan, Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol.
Financial institution holidays record for August 2023
August 8 (Tendong Lho Rum Faat): Financial institution Vacation in Sikkim
August 15 (Independence Day): Financial institution vacation throughout India
August 16 (Parsi New Yr- Shahenshahi): Financial institution vacation in Belapur, Mumbai, and Nagpur
August 18 (Tithi of Srimanta Sankardeva): Financial institution vacation in Guwahati
August 28 (First Onam): Financial institution vacation in Kochi and Thiruvananthapuram
August 29 (Thiruvonam): Financial institution vacation in Kochi and Thiruvananthapuram
August 30 (Raksha Bandhan): Financial institution vacation in Jaipur and Shimla.
August 31 (Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol): Financial institution vacation in Dehradun, Gangtok, Kanpur, Kochi, Lucknow and Thiruvananthapuram.
Financial institution Holidays August 2023: Listing of weekend leaves
August 6: Sunday
August 12: Second Saturday
August 13: Sunday
August 20: Sunday
August 26: Fourth Saturday
August 27: Sunday
Banks in India could stay open solely 5 days every week
The United Discussion board of Financial institution Unions (UFBU) has sought that working days for banks stay 5 days every week solely, additionally that staff get 2 days weekly off. At current, financial institution staff get off on Sundays, and second and fourth Saturdays. Additionally they get holidays on festivals, and the Reserve Financial institution of India (RBI) prepares the vacation record. On-line providers, nonetheless, stay useful on holidays as nicely.
The demand for a 5-day work week first got here after the coverage was carried out within the Life Insurance coverage Company (LIC) of India, in Could 2021.
The Finance Ministry of India had earlier knowledgeable that they don’t have any objection to the UBFU’s demand for a five-day work week for financial institution staff.
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Up to date: 29 Jul 2023, 07:10 AM IST
Supply: Live Mint