Banks are the backbone of Indian economy. Almost everyone in India has a bank account. The common people are very concerned about the bank holidays so in this post we will provide you the complete list of Bank holidays in 2020.
|January 26||Sunday||Republic Day|
|February 21||Friday||Maha Shivaratri|
|April 1||Wednesday||Bank annual closing|
|April 2||Thursday||Ram Navami|
|April 6||Monday||Mahavir Jayanti|
|April 10||Friday||Good Friday|
|April 14||Tuesday||Dr Ambedkar Jayanti|
|May 7||Thursday||Buddha Purnima|
|May 24||Sunday||Idul Fitr|
|July 31||Friday||Bakrid / Eid al Adha|
|August 15||Saturday||Independence Day|
|August 22||Saturday||Fourth Saturday Bank Holiday|
|October 2||Friday||Gandhi Jayanti|
|October 24||Saturday||Fourth Saturday Bank Holiday|
|October 25||Sunday||Maha Navami|
|October 26||Monday||Vijaya Dashami|
|October 30||Friday||Eid e Milad|
|October 31||Saturday||Maharishi Valmiki Jayanti|
|November 30||Monday||Guru Nanak Jayanti|
|December 25||Friday||Christmas Day|
Note: Banks are closed on every second and fourth Saturday. If there are five Saturday in the month then the banks will be opened on last Saturday i.e. fifth Saturday.
There are state wise holidays in banks. India is very big country so there are lots of local festivals and rituals so the States can provide to banks through NI Act. States can also send banks to holiday if there is any situation of grave concern or some leader of high importance to country has died. There are special conditions when that happens. Banks are not closed without prior permission of Government.
What are the options we are left with?
RBI has converted NEFT (National electronic fund transfer ) into a 24*7*365 service .Now we can do neft anytime from our home. There is no need to visit branch if have availed the facility of online transfer.
These days if we require cash ,then we can directly go to ATM and get the job done. We don’t need to visit bank branch to get cash.
UPI (Unified Payment Interface) is another method with the help of which we can do online shopping and do basic banking from home.
Internet banking is made very simplified by banking organisations. Now you can use it your phones and do every kind of banking activity for which one has to visit the bank earlier.
So this all about Bank holidays in 2020 .Please share your thoughts.