Bank Holidays in India 2023

Bank Holidays in India are listed by the State Government, Central Government, and the Union Territories under the Negotiable Instruments Act 1881. In India, nationally, banks remain closed on three days of the year viz; 26th January (Republic Day), 15th August (Independence Day), and 2nd October (Mahatma Gandhi Jayanti).

Apart from these three days, banks in India remain shut on government holidays (in respective states) and the second and fourth Saturdays of every month. Here, we have listed all the Bank Holidays in India 2023 for all states. Go through the list to plan your visit to your bank accordingly.

Bank Holidays 2023

There are a lot of Bank Holidays in India in 2023. Besides the three gazetted holidays (Independence Day, Republic Day, and Gandhi Jayanti), the banks will remain shut on several other public occasions. Bank Holidays will also differ from state to state. However, on major religious occasions such as Diwali, Holi, Eid, etc., the banks will remain closed in all states. Find more information about Bank Holidays here.

Types of Bank Holidays

India observes two kinds of bank holidays. They are:

• National Holidays, also known as Gazetted holidays - On specific days in a year, banks remain closed under the Negotiable Instruments (NI) Act, 1881 by Central/State Governments/ Union Territory.
• Government Holidays are further bifurcated as State Government bank holidays and Central Government bank holidays. Where the former differs from state to state, the latter is commonly observed all across the country.

List of Bank Holidays in 2023

Indian banks remain closed on gazetted and certain non-gazetted public holidays. Here is the list of Bank Holidays in 2023:

Bank Holiday 2023 - Mandatory Off

Apart from the above-mentioned bank holidays, banks all across India remain shut on the second and fourth Saturdays of each month. However, if there are five Saturdays in a month, the fifth Saturday is declared a bank holiday. In 2023, the banks will mandatorily remain closed on the following days:

How are Bank Holidays in India Decided?

Since India is a multicultural country, there are a number of unique festivals and celebrations held every month. However, not all people celebrate all occasions. To keep in mind the significance of occasions for people of particular identities, Bank Holidays in India are decided by the collective efforts of the central and state governments.

While bank holidays for local festivals are limited to a particular region and are decided by the state or union territorial governments, the central government decides the bank holidays on a national level.

Important National Bank Holidays in 2023

Republic Day (26th January)

This day celebrates the establishment of India's Constitution in 1949. Republic Day is one of the gazetted holidays in India. This is also a bank holiday for all public and private sector banks.

Holi (8th March)

Holi is one of the most important festivals for Hindus. It is known as the festival of colours, and people celebrate it with much joy and excitement. This day is always observed as one of the bank holidays in India.

Good Friday (7th April)

Good Friday commemorates the crucifixion, death, and ultimate resurrection of Jesus Christ. This is an important holiday for Christians. Good Friday will be observed as one of the bank holidays in 2023.

Idul Fitr (22nd April)

This holiday marks the end of a month-long fasting period called Ramadam. Idul Fitr is celebrated by Muslims around the world. Idul Fitr is only celebrated when a new moon is visible in the sky.

Independence Day (15th August)

Independence Day is the second gazetted holiday in India. On this day, India officially attained independence from British rule in 1947. This day is always a bank holiday for all banks, be it public or private.

Gandhi Jayanti (2nd October)

The third and final gazetted holiday in India, Gandhi Jayanti is celebrated to mark the birth of M.K. Gandhi, who was a key figure in India's independence struggle. His birth anniversary is observed as a bank holiday in India.

FAQs on Bank Holidays in India

Q1. How many national bank holidays in India are there?

There are three national bank holidays in India, including 26th January (Republic Day), 15th August (Independence Day), and 2nd October (Gandhi Jayanti). These days are a bank holiday for all private and public sector banks in the country.

Q2. Is the second Saturday a bank holiday in India?

Yes, the second and fourth Saturdays are bank holidays in India for public and private sector banks. Moreover, for the months where there are five Saturdays, the fifth Saturday is also considered a bank holiday.

Q3. Is New Year's Day a bank holiday in India?

No, New Year's Day is not a public holiday for all the banks in India. However, some banks observe New Year's as a bank holiday. Whether or not the day is observed as a holiday depends on the respective bank.

Q4. How many bank holidays are there in the month of October?

The bank holidays in India in the month of October include 2nd October (Gandhi Jayanti), 21st October (Ashtami), 22nd October (Navmi), and 24th October (Vijaya Dashmi). Besides these dates, banks will also remain closed on 14th October (Second Saturday) and 28th October (Fourth Saturday).