Bank Holiday on July 16: All state-run and private banks in Uttarakhand, including the State Bank of India (SBI), will remain shut today, July 16, on account of Harela. Notably, tomorrow (July 17) is a national bank holiday for Muharram.
Harela is a festival celebrated in the northern state of Uttarakhand to mark the monsoon arrival and start of the new agricultural season. Overall, July 2024 has at least 12 listed holidays for banks on account of regional festivities, religious holidays and weekend leaves. Besides this, each month has second and fourth Saturday and every Sunday off.
These holidays have been declared by the Reserve Bank of India (RBI) under provisions of the Negotiable Instruments Act, which deals with the issuance of cheques and promissory notes. Transactions involving these instruments will thus not be available during the holidays.
The RBI and respective state governments issue the scheduled list of annual non-working days for banks considering various factors such as national and state holidays, cultural or religious observances, operational needs, government announcements, and coordination with other banks. The central bank makes the announcement through its official website and notifications to banks and other financial institutions.
Customers must note that bank holidays differ across states due to the regional requirements. Thus to stay informed, you should confirm the full list of holidays with their nearest bank branch to plan better and avoid last-minute confusion and emergencies.
Meanwhile, the online and mobile banking services via websites and apps will continue uninterrupted regardless of any holidays, unless specifically stated by a bank for technical or other reasons. Customers can also access banks ATMs for urgent cash withdrawals.
