Bank holiday today: Are banks open on Saturday, November 16? Check here

Banks across India follow a holiday schedule determined by the Reserve Bank of India (RBI). They remain closed on Sundays, the second Saturday, and the fourth Saturday every month. Since today, 16 November, is the third Saturday, banks will remain open for business as usual.

November 17 ( Sunday): Sunday

November 18 ( Monday): All the banks will remain closed in Karnataka on Kanakadasa Jayanti.

November 23 ( Saturday): In Meghalaya, banks will remain closed on the occasion of Seng Kutsnem. Also, 23 November is the fourth Saturday.

November 24 ( Sunday): Sunday

RBI categorises holidays into three types: those under the Negotiable Instruments Act, Real Time Gross Settlement Holidays, and Banks’ Closing of Accounts.

Bank holidays and impact on customers

Bank holidays can impact customers in several ways, depending on the nature of the holiday and the services affected.

On bank holidays, physical branches are typically closed, which means customers cannot visit the branch for in-person services such as account inquiries, cash deposits, loan processing, or meeting with bank representatives.

Transactions like fund transfers, cheque clearances, and other manual processes may be delayed if they require processing on the holiday. While many digital transactions are processed immediately, those that need human intervention or are processed through specific clearing systems may be postponed.

In observance of Guru Nanak Jayanti, banks across several Indian states will be closed on Friday, November 15, 2024. The annual celebration, also known as Guru Nanak Gurpurab, commemorates the birth of Guru Nanak, the revered founder of Sikhism. Coinciding with Kartika Purnima, this holiday is a significant cultural and spiritual event observed nationwide. If you’re wondering whether your local bank branch will be open, here’s a list of the states where banks will be closed.

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