The 10th month of the year is also the seventh month of the fiscal year, in this case FY25. This month also brings about many holidays, as the Indian subcontinent ushers in the season of festivities. This, however, also means that many days in the month, the crucial engine of growth in any economy, the banks will not render their physical operations.
In the month of October, banks in the country are expected to remain operational for a cumulative 17 days (Here, these holidays and working days may vary from one region to the other).
The first major bank holiday falls on Wednesday, October 2, when banks in most territories in the country will remain closed on account of Gandhi Jayanti.
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Gandhi Jayanti Thereafter, the next bank holiday arrives on October 3, where banks in Jaipur will remain closed on account of Navratri. Then the bank will remain shut on Sunday, October 6.
Post that, the next major bank holiday is slated to hold the shutters on Thursday, October 10, on account of Maha Saptami. Banks in cities like Kolkata, Guwahati, Kohima and Agartala are expected to remain shut.
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Banks will remain closed on the next day as well. On Saturday, October 12, lenders will not be available for physical operations as it would mark the second Saturday of the month. Banks will also remain shut on Sunday, October 13.
On Monday, October 14, banks in Sikkimese capital Gangtok will remain closed due to Durga Puja (Dasain).
Diwali falls in October 2024. Banks will remain closed on Wednesday, October 16 on account of Laxmi Puja.
Banks in some cities, including Bengaluru, Guwahati, and Shimla, will remain closed on Thursday, October 17, on account of Maharshi Valmiki Jayanti/Kati Bihu (Assam). Later that week, banks will remain closed on Sunday, October 20.
Thereafter, as per routine, banks will remain shut on October 26, as it would mark the fourth Saturday of the month. This will be followed by Sunday, October 27.
As the month of October comes to a close, banks in some cities, including Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, New Delhi, Panaji, Patna, Raipur, Ranchi, Shimla, and Thiruvananthapuram, will not be operational on Thursday, October 31, on account of Kali Puja/Naraka Chaturdashi.
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Consumers can access services like Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) as well as the Unified Payment Interface (UPI), internet banking, and ATMs. These services can even be made available on bank holidays.
However, if specific banks choose to use the time for maintenance, some of the services can be impacted.
Customers are expected to contact their banks in this situation to enquire further about the services that are offered.
