As we step into the second month of the year, it's crucial to be aware of the upcoming bank holidays. In February, banks will be closed for a total of 11 days, covering both the second and fourth Saturdays, Sundays, and specific regional holidays like Saraswati Puja.
Understanding bank schedules
Banks typically operate on the first and third Saturdays of each month, staying closed on the second and fourth Saturdays. National holidays lead to countrywide closures, affecting all states uniformly.
Despite the increasing reliance on online banking, tasks such as opening a new account or securing a loan often require a visit to a physical branch.
Check before you go
To avoid disappointment and wasted trips, it's essential to be aware of the bank holidays in advance. The Reserve Bank of India classifies holidays into three categories: those under the Negotiable Instruments Act, Negotiable Instruments Act Real Time Gross Settlement Holidays, and Banks’ Closing of Accounts.
Keep in mind that regional holidays may vary, so always check the specific holidays applicable to your state and bank. Staying informed about the bank holiday schedule ensures you can plan your financial tasks efficiently, saving time and avoiding unnecessary inconveniences.
Here is the complete list of holidays:
- 4 February: Sunday
- 10 February: Second Saturday and Losar (Closed in Gangtok)
- 11 February: Sunday
- 14 February: Banks will remain closed in Tripura, Orissa, and West Bengal due to Basant Panchami or Saraswati Puja.
- 15 February: Bank holiday in Imphal (Manipur) due to Lui-Ngai-Ni.
- 18 February: Sunday
- 19 February: Bank will remain closed in Belapur, Mumbai, and Nagpur due to Chhatrapati Shivaji Maharaj Jayanti
- 20 February: Banks will be closed in Aizawl and Itanagar due to State Day/Statehood Day
- 24 February: Second Saturday
- 25 February: Sunday
- 26 February: Bank holiday in Itanagar (Arunachal Pradesh) due to Nyokum