On Wednesday, July 17, 2024, banks in several states across India will be closed in observance of Muharram, which marks the beginning of the Islamic New Year. Muharram is a period of mourning and reflection, with the 10th day, known as Ashura, commemorating the martyrdom of Imam Hussain, the grandson of Prophet Muhammad, at the Battle of Karbala. The day is marked by fasting, prayer, and public processions.
States observing the bank holiday include Andhra Pradesh, Mizoram, Rajasthan, Tamil Nadu, Gujarat, Karnataka, Telangana, Andaman & Nicobar, Bihar, Chhattisgarh, Delhi, Tripura, Uttar Pradesh, Jammu and Kashmir, Jharkhand, Lakshadweep, Madhya Pradesh, Maharashtra, and Odisha. Additionally, Meghalaya will observe a holiday for U Tirot Sing Day, honoring the legacy of the prominent freedom fighter.
Those with banking transactions should plan accordingly to avoid inconvenience. While online banking services and ATMs will remain operational, branch-related services will be unavailable. It is advisable to complete any urgent banking transactions before the holiday.
In addition to bank closures, leading stock exchanges such as NSE and BSE will also be closed on July 17, 2024. This closure will affect the equities, equity derivative, and SLB segments. Financial transactions should be planned and managed ahead of time to ensure smooth operations.
According to the Reserve Bank of India’s (RBI) holiday calendar, banks across India will remain closed for 12 days in July 2024, including regional and state-specific holidays, as well as the usual second and fourth Saturdays and Sundays. Customers are advised to check the RBI’s holiday list to avoid unnecessary trips to the bank.
Bank Holidays in July 2024:
- July 3: Beh Dienkhlam (Meghalaya)
- July 6: MHIP Day (Mizoram)
- July 7: Weekend (All states)
- July 8: Kang (Rathajatra) (Manipur)
- July 9: Drukpa Tshe-zi (Sikkim)
- July 13: Second Saturday (All states)
- July 14: Weekend (All states)
- July 16: Harela (Uttarakhand)
- July 17: Muharram/Ashoora/U Tirot Sing Day (observed in West Bengal, Uttar Pradesh, Maharashtra, New Delhi, Bihar, Jharkhand, Chhattisgarh, Himachal Pradesh, Jammu and Kashmir, Meghalaya, Rajasthan, Andhra Pradesh, Telangana, Tamil Nadu, Mizoram, Karnataka, Madhya Pradesh, Tripura)
Despite these closures, customers can still access banking services through net banking, ATMs, mobile applications, and bank websites. This ensures continuous access to banking facilities even on holidays.
To stay updated and avoid any inconvenience, it’s essential to keep track of the bank holiday schedule for your region.