rakshabandhan 2024Image credit source: Getty Images
Rakshabandhan falls on August 19. On this day, sisters tie Rakhi on their brother’s wrist. Now many people are wondering if banks will remain closed on that day as well. Let us tell you that due to Raksha Bandhan, banks will remain closed in many cities on August 19. In its list of official holidays, the Reserve Bank of India (RBI) has declared a holiday for banks in various cities on August 19 on account of Raksha Bandhan, Jhula Purnima and the birth anniversary of Bir Bikram Kishore Manikya Bahadur.
Keep this in mind
Customers should check with their local bank branches before visiting the bank. On this day, physical banking services will not be available in public and private sector banks in most cities. However, customers can avail digital banking services like internet banking, mobile banking, WhatsApp banking, NEFT and RTGS as usual. Banks will remain closed in cities like Agartala, Ahmedabad, Bhopal, Bhubaneswar, Dehradun, Jaipur, Kanpur, Lucknow and Shimla.
Raksha Bandhan is an auspicious Hindu festival that celebrates the bond between brothers and sisters. It is celebrated by tying the sacred Rakhi that symbolizes love, protection, and the bond between brothers and sisters. Raksha Bandhan is a bond between brother and sister that symbolizes security and mutual respect. This festival is celebrated on the full moon day of the Hindu lunar month of Saavan.
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What does the RBI rule say?
As per the Reserve Bank of India (RBI) guidelines, public holidays in India are divided into three categories. In which Negotiable Instruments Act, Negotiable Instruments and Real Time Gross Settlement Act and the last category is closure of accounts by banks. However, the online facilities of all banks will continue to function smoothly during these holidays. If you have to make any important transaction, you can avail the online facility. Therefore, the central bank always advises the customer to keep these things in mind.
