Bank Holidays in 2020

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
March 10 Tuesday Holi
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 11 Tuesday Janmashtami
August 15 Saturday Independence Day
August 22 Saturday Fourth Saturday Bank Holiday
August 30 Sunday Muharram
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 14 Saturday Diwali
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?

NEFT:

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.

ATM :

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 :

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:

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.