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Tag: Bank holidays

  • Janmashtami Bank Holiday 2024: Are Banks Open Or Closed On August 26? Check State-Wise List | Economy News

    New Delhi: Several states will experience a three-day bank closure starting this Saturday, August 24, 2024. This is due to some states observing a bank holiday on Monday, August 25, in celebration of Krishna Janmashtami. To ensure smooth banking transactions, it’s a good idea for customers to check if their state will be affected by this holiday.

    Are All Banks Closed on August 24?

    Yes, banks will be closed this Saturday, August 24, because it’s the fourth Saturday of the month. As per RBI guidelines, banks observe closures on the second and fourth Saturdays along with Sundays and other national or regional holidays.

    August Bank Holidays in 2024

    August 24 (Saturday): Fourth Saturday of the month; banks are closed.

    August 25 (Sunday): Banks are closed as it is Sunday.

    August 26 (Monday): On August 26, 2024, in observance of Krishna Janmashtami (Shravan Vad-8), banks will be closed in several states across India. This includes Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Himachal Pradesh, Jharkhand, Jammu, Karnataka, Meghalaya, Odisha, Punjab, Rajasthan, Sikkim, Tamil Nadu, Telangana, Uttar Pradesh, and West Bengal.

    Please note that while physical bank branches will be closed on Monday in the listed states, digital banking services will still be available. You can continue to use internet banking, mobile banking, WhatsApp banking, as well as NEFT and RTGS services without interruption.

  • Three-Day Bank Holiday Alert! Financial Institutions To Shut Down On THESE Dates | Personal Finance News

    New Delhi: As India gears up to celebrate Republic Day on January 26, the much-awaited parade is set to kick off at 10:30 am. The procession will follow the route from Vijay Chowk to Kartavya Path, showcasing the grandeur of the Indian armed forces, police, and paramilitary groups. This year, the honored chief guest for the festivities is French President Emmanuel Macron.

    Venue And Audience

    Rajpath in Delhi will be the focal point for the celebrations, where approximately 77,000 people will gather to witness the spectacular event. Out of this, 42,000 seats are reserved for the general public, providing an opportunity for citizens to participate in the patriotic celebrations. (Also Read: Flipkart Announces Annual Workforce Restructuring: 1,000 Employees To Be Let Go)

    Bank Holiday On Republic Day

    Wondering if tomorrow is a bank holiday? Yes, January 26 is indeed a bank holiday. Given that banks typically observe holidays on the second and fourth Saturdays of the month, Republic Day, falling on a Friday this year, extends the break into a long weekend. With the subsequent fourth Saturday on January 27 and Sunday on January 28, banks will resume operations only on Monday, January 29. (Also Read: Riding The Billions: Meet Indian Tycoon Whose Company Powers Luxury Giants BMW, Mercedes Benz, Rolls Royce And Net Worth Is Rs…)

    January’s Holiday Calendar

    January has been an eventful month on the holiday front, with a total of 16 bank holidays, including weekends and an additional half-day off on January 22 for the Ram Mandir inauguration. It’s essential to note that holiday schedules align with local customs, varying across different states in India.

    Upcoming Weekends With Bank Closings

    Looking ahead, here are the upcoming weekends when banks will be closed – January 7 (Sunday), January 13 (Second Saturday), January 14 (Sunday), January 21 (Sunday), January 27 (Fourth Saturday), and January 28 ( Sunday).

  • Bank Holiday ALERT! Financial Institutions To Be Closed On Three Consecutive Days This Month | Personal Finance News

    New Delhi: As we step into the last week of January 2024, Indian banks are gearing up for an extended weekend, with a total of 16 holidays slated for the month. The Reserve Bank of India (RBI) carefully curates this list, considering various factors like national and state holidays, cultural or religious observances, operational needs, government announcements, and coordination with other banks.

    Tuesday, January 23: Banks Closed in Manipur

    On January 23 (Tuesday), banks in Manipur will remain closed due to the celebration of Gaan-Ngai. It’s a regional holiday dedicated to cultural festivities and observances in the state. (Also Read: Tongue-Di-Kebab: Ex-Twitter Executive Thought It Was ‘Kurkure’; Hillarious Post Goes Viral)

    Thursday, January 25

    January 25 (Thursday) marks Thai Poosam/Birthday of Md. Hazrat Ali, leading to bank closures in Tamil Nadu, Maharashtra, and Uttar Pradesh. Customers in these regions should plan their banking activities accordingly. (Also Read: Motorola Slashes Prices On Razr 40 Flip Phone In India: Here’s How Deal Works)

    Friday, January 26: Republic Day National Holiday

    January 26 (Friday) is Republic Day, a national holiday in India. As banks remain closed on this day, it kicks off a long weekend, extending through the fourth Saturday and Sunday.

    Saturday, January 27: Fourth Saturday Closure

    Banks are scheduled to remain closed on January 27 (Fourth Saturday) as part of the routine monthly closure.

    Sunday, January 28

    As usual, banks will also be closed on January 28 (Sunday) as part of their regular weekend closure.

    Special Closure For Ram Temple Consecration

    In a unique occurrence, an order from the Ministry of Finance on January 18 directed public sector banks (PSBs) and regional rural banks to observe a half-day off on January 22. This special closure was in honor of the Ram temple consecration ceremony in Ayodhya.

    Impact On Private Banks In Uttar Pradesh

    Bank branches of major private sector lenders, including HDFC Bank and Axis Bank, were also closed on January 22, 2024, in Uttar Pradesh. HDFC Bank observed a full-day closure in UP and Uttarakhand, while Axis Bank remained closed for the entire day in Uttar Pradesh.

  • Bank holidays in September 2022: Here is the checklist of holidays subsequent month

    The banks are prone to stay shut for eight days subsequent month, based on the Reserve Bank of India’s (RBI) vacation calendar. In September, festivals corresponding to Ganesh Chaturthi, Onam, Sree Narayana Guru Jayanthi and Navratri might be celebrated.

    While there are some financial institution holidays that might be noticed throughout the nation, there are a number of that are going to be state/region-specific.

    The RBI has given the dates on which banks might be shut in September 2022. The central financial institution categorises banking holidays within the following method:

    Holiday underneath Negotiable Instruments Act.
    Holiday underneath Negotiable Instruments Act and Real-Time Gross Settlement Holiday.
    Banks’ Closing of Accounts.

    Here is the checklist of financial institution holidays in September throughout the States and Union Territories

     

    List of financial institution holidays for September (Image: RBI web site)

    On the event of Ganesh Chaturthi (2nd day) on September 1, the banks will stay closed in Goa. There might be a financial institution vacation in Ranchi (Jharkhand) on September 6 attributable to Karma Puja.

    Banks will stay closed on September 7-8 in Kerala for the Onam and Thiruvonam respectively. On September 9, there might be a financial institution vacation in Gangtok for the Indrajatra pageant.

    On the event of Sree Narayana Guru Jayanthi on September 10, there might be a financial institution vacation in Kerala. Banks may even stay closed within the state on September 21, owing to Sree Narayana Guru Samadhi.

    There might be a financial institution vacation on September 26, in Jaipur and Imphal for Navratri Sthapna and Mera Chaoren Houba of Lainingthou Sanamahi.

    Apart from these abovementioned holidays, banks may even be shut on second and fourth Saturdays and all Sundays. However, it should be famous that regardless of these financial institution holidays account holders can use internet banking and cellular banking to do a few of their financial institution work.

  • ITR submitting final date is a financial institution vacation. Key issues {that a} taxpayer ought to know

    ITR submitting for AY 2022-23: Due date for earnings tax return (ITR) submitting for FY 2021-22 or AY 2022-23 is thirty first July 2022. Those incomes people, who fail to file their earnings tax return by the given due date, should pay late payment from 1st August 2022 for submitting their I-T return. So, it’s advisable for the taxpayers to file their I-T return on time. However, there’s a catch within the ITR submitting final date. thirty first July is Sunday, which will likely be a financial institution vacation. So, taxpayers who does not have a protracted expertise of ITR submitting mustn’t get confused with financial institution vacation and ITR submitting final date as a result of now a day earnings tax return could be filed 24x7x365. However, it’s advisable for the incomes people that they should not await the due date of ITR submitting.

    Advising taxpayers to not get confused with financial institution holidays and ITR submitting final date, Aarti Raote, Partner at Deloitte India mentioned, “ITR filing is online and can be done anytime hence public holidays no longer should be a cause of concern- this was a issue in the days of manual filing. This being said it’s ideal not to wait till the last date of filing to avoid the heavy internet traffic when systems may get jammed.”

    Why you should not await ITR submitting due date

    Advising taxpayers to not await the final date of ITR submitting for AY 2022-23, Sujit Bangar, Founder at Taxbuddy.com mentioned, “On 31st July being bank holiday, this may be an issue. Due to heavy load, there are instances of income tax portal having some issues on last day.” He mentioned that because of financial institution vacation, internet banking might not work as easy as it really works on working days. So, it is higher to file ITR as quickly as doable moderately ready for the final date of ITR submitting.”

    “The penalties of late submitting are very sever. One has to pay penalty for submitting late return and if there’s loss, it can’t be carried ahead. If you pay tax after thirty first July, there can be separate penal curiosity of 1% per thirty days. Therefore, it’s advisable to file earnings tax return with none additional delay,” Bangar said.

    Due date for filing income tax return for salaried individuals and for non audit businesses is 31st July 2022. There is a buzz about probable extension or non extension of this due date. Many are postponing their decision of filing income tax return day by day. This year due date for filing has come on Sunday and it’s bank holiday also. Many times we face problem in payment of taxes.

    See income tax department tweet below:

    It has been seen that taxpayers are going through points in accessing ITD e-filing portal. As knowledgeable by @Infosys, they’ve noticed some irregular visitors on the portal for which proactive measures are being taken. Some customers could also be inconvenienced, which is regretted.

    — Income Tax India (@IncomeTaxIndia) July 2, 2022

    Taxpayers may have to go to financial institution department

    SEBI registered tax and funding professional Jitendra Solanki mentioned, “A taxpayer may pay income tax through bank challans. In case of non availability of online banking, the taxpayer will have to visit bank branch and pay income tax via challan. The taxpayer also requires Form 16 from its bank that may be or may not be fished out through net banking. So, in that case as well, the taxpayer will be required to visit its bank branch. So, one should not wait for the last date of ITR filing.”

    Pankaj Mathpal, MD & CEO at Optima Money Managers mentioned, “Even if the due date for ITR submitting had been a working day, I’d advise taxpayers to get the financial institution challan work a lot earlier than the due date as a result of it takes time to get the financial institution challan quantity.”

    Pankaj Mathpal additionally suggested taxpayers to make sure concerning the AIS (Annual Information Summary) as a result of mismatch with AIS might result in earnings tax discover even after you file your ITR inside the given due date for ITR submitting.

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  • Bank holidays in July 2022: Here is the complete listing of holidays

    Bank holidays in July 2022: Indian banks are prone to be shut for eight days throughout the month of July 2022, as per the main points out there on the Reserve Bank of India’s (RBI) web site. While there are some financial institution holidays that can be noticed throughout the nation, there are just a few that are going to be state/region-specific.

    The RBI has given the dates on which banks can be shut in July 2022. The central financial institution categorises banking holidays within the following method:

    Holiday beneath Negotiable Instruments Act.
    Holiday beneath Negotiable Instruments Act and Real-Time Gross Settlement Holiday.
    Banks’ Closing of Accounts.
    List of financial institution holidays in July 2022:

    July 1: Kang (Rathajatra)/Ratha Yatra. Banks in Bhubaneswar and Imphal can be closed.

    July 7: Kharchi Puja. Banks in Agartala can be closed.

    July 9: ld-Ul-Ad’ha (Bakrid). Banks in Kochi and Thiruvananthapuram can be shut.

    July 11: Eid-ul-Azha. Banks in Jammu and Srinagar area are to be closed.

    July 13: Bhanu Jayanti. Banks in Gangtok are to be closed.

    July 14: Beh Dienkhlam. Banks in Shillong can be shut.

    July 16: Harela. Banks in Dehradun can be closed.

    July 26: Ker Puja. Banks in Agartala can be closed.

    Apart from the above talked about holidays, banks may also be shut on second and fourth Saturdays and all Sundays. However, it have to be famous that regardless of these financial institution holidays account holders can use web banking and cellular banking to do a few of their financial institution work.

  • Banks to stay closed for 4 days this week; particulars right here

    Banks will stay closed in a number of components of the nation from April 14 to April 17 because of numerous festivals.

    According to the Reserve Bank of India (RBI) vacation calendar, there are as many as 10 financial institution holidays this month, and three of them fall this week.

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    This has come as a aid to staff who labored relentlessly for weeks final month owing to the annual closing of accounts. These holidays, declared below the Negotiable Instruments Act, are, nevertheless, totally different for every state.

    Following is an inventory of holidays that fall on the upcoming three days until April 17 (Sunday) and regional places of work that may stay closed/practical on lately:

    April 14

    Dr Babasaheb Ambedkar Jayanti/Mahavir Jayanti/Baisakhi/Vaisakhi/Tamil New Year’s Day/Cheiraoba/Biju Festival/Bohag Bihu.

    On this present day, banks will stay closed in Agartala, Ahmedabad, Belapur, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Guwahati, Hyderabad, Imphal, Jaipur, Jammu, Kanpur, Kochi, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Panaji, Patna, Ranchi, Srinagar, Thiruvananthapuram.

    Only lenders in Meghalaya gained’t observe a vacation on this present day.

    April 15

    Good Friday/Bengali New Year’s Day (Nababarsha)/Himachal Day/Vishu/Bohag Bihu

    Banks can be closed besides in Rajasthan, Jammu and Srinagar

    April 16

    Bohag Bihu

    Banks will stay closed in Guwahati

    Banks below sure regional places of work will stay closed on April 21 (Garia Puja) and April 29 (Shab-I-Qadr/Jumat-ul-Vida) as effectively.

  • Bank holidays in July 2021: Full record of days banks will stay closed

    Banks will stay closed for a complete of fifteen days in July on account of holidays. These embrace second, fourth Saturdays and Sundays other than the 9 festival-related holidays. As per the Reserve Bank of India (RBI) vacation calendar record, all 9 holidays are state-specific holidays for various events. So, when you’ve got vital bank-related work in July, this calendar will come in useful in planning.

    All banks stay shut on public holidays whereas sure holidays range from state to state. Only the gazetted holidays are noticed by banks all around the nation.

    RBI has positioned the financial institution holidays below three classes

    Holiday below Negotiable Instruments ActHoliday below Negotiable Instruments Act and Real-Time Gross Settlement HolidayBanks’ Closing of Accounts.Banks throughout Bhubaneshwar will observe the vacation on July 12 on account of Rath Yatra. The banks may even stay shut on July 12 in Imphal on account of Kang (Rathajatra).

    On July 13 and 14, banks in Sikkim will stay closed to look at Bhanu Jayanti and Drukpa Tshechi.

    On July 16, banks in Uttarakhand can be closed on account of the Harela competition. On July 17, Agartala and Shillong banks can be closes due to U Tirot Sing Day and Kharchi Puja, respectively.

    The financial institution will stay shut in Sikkim on July 19 on account of Guru Rimpoche’s Thungkar Tshechu. On July 20, on account of Bakrid, banks will stay shut in Jammu and Kochi. However, on July 21, aside from Aizawl, Bhubaneswar, Kochi and Thiruvananthapuram, all banks will stay shut on account of Bakri Id (Id-Ul-Zuha)/ (Eid-UI-Adha). In Agartala, the banks can be shut on July 31 due to Ker Puja.

    Bank Holidays in July 2021:

    4 July – Sunday

    10 July – Second Saturday

    11 July – Sunday

    12 July -Monday (Kang (Rathajatra)/Ratha Yatra)

    13 July- Tuesday (Bhanu Jayanti)

    14 July-Wednesday (Drukpa Tshechi)

    16 July – Friday ( Harela)

    17 July- Saturday(Tirot Sing Day/Kharchi Puja)

    18 July – Sunday

    19 July-Monday (Guru Rimpoche’s Thungkar Tshechu)

    20 July- Tuesday (Bakrid)

    21 July- Wednesday – (Bakri Id (Id-Ul-Zuha) (Eid-UI-Adha)

    24 July – Fourth Saturday

    25 July – Sunday

    31 July- Saturday (Ker Puja)

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  • Soon, you will get wage and pay EMIs on financial institution holidays

    Whenever your EMI falls over the weekend or banking holidays, the lender debits your checking account both a day earlier or on the following enterprise day. Soon, this can change.

    From 1 August, the RBI will make the NACH facility out there 24×7. The National Payments Corporation of India has carried out the National Automated Clearing House or NACH platform. It facilitates high-volume, repetitive and periodic e-transactions.

    Your employer could possibly be utilizing NACH to switch salaries. The automated EMI reimbursement of loans, too, occurs by this platform. Governments, corporates and banks use it to distribute subsidies, dividends, curiosity, wage and pension. They additionally use it to gather invoice funds, loans, investments in mutual funds and insurance coverage premiums.

    According to Sanjeev Srivastav, chief danger officer, IIFL Finance, there are a lot of advantages of round the clock NACH.

    “The lender can ship fee requests on the due date, even when it’s a vacation. Customers can, due to this fact, plan their funds higher if funds are deducted on time. If there’s auto-debit for a bank card, the shopper received’t miss the due date due to holidays,” stated Srivastav.

    Firms utilizing know-how for debt restoration and delinquency administration have a look at NACH knowledge to find out prospects’ reimbursement behaviour.

    “This is a welcome transfer and may usher in additional effectivity within the banking system. Extending the variety of working days for NACH will make sure that the amount of collections will go up and can decrease the bounce price for loans being repaid by NACH mandates,” stated Anshuman Panwar, co-founder, Creditas Solutions, an organization that gives delinquency administration options.

    The NACH mandate can even pace up the processing time for systematic funding plan (SIP) registration and enhance investor expertise. According to mutual fund distributors, it presently takes 2-3 weeks to register SIPs by NACH. The pace will depend on the investor’s financial institution, with some smaller banks or nationalized banks taking longer for registration.

    “As of now, most SIPs are scheduled for the tenth of each month adopted by fifth, fifteenth and twentieth. If distributors are assured of shorter mandate processing instances, it is going to allow them to have wider SIP begin/cycle dates. This can even presumably cut back the load on on-line MF platforms on particular days,” stated Ganesh Ram, CEO of Mutual Fund Utilities (MFU), an internet mutual fund funding platform.

    Delay or failure of NACH registration is essentially the most frequent criticism from traders, and this may come down with the brand new guidelines, he stated.

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  • Bank Holiday at the moment, tomorrow: List of cities through which banks will stay shut

    On account of Id-Ul-Fitr, banks will stay closed in most elements of the nation at the moment (13 May) and 14 May as per the Reserve Bank of India (RBI( vacation calendar. Bank holidays are declared underneath Negotiable Instruments Act. Bank holidays should not noticed in all of the states they usually differ as per the precise state.

    Bank Holiday at the moment, tomorrow

    13 May: RaBank(Id-Ul-Fitr) (Shawal-1)

    Banks will stay closed in Belapur, Jammu, Kochi, Mumbai, Nagpur, Srinagar, Thiruvananthapuram

    !4 May: Bhagvan Shree Parshuram Jayanti/Ramjan-Eid (Eid-UI-Fitra)/Basava Jayanti/Akshaya Tritiya

    Banks will stay closed in Agartala, Ahmedabad, Aizawl, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Guwahati, Hyderabad, Imphal, Jaipur, Jammu, Kanpur, Kolkata, Licknow, New Delhi, Panaji, Patna, Raipur, Ranchi, Shillong, Shimla

    Apart from these the opposite financial institution holidays in May are

    16 May: Sunday

    22 May: Fourth Saturday

    23 May : Sunday

    26 May: Buddha Pournima

    30 May: Sunday

    Trading at Indian indices (each BSE and NSE) will stay closed at the moment on account of Ramadan. According to the official web site of BSE, buying and selling in fairness, fairness by-product and SLB Segment will stay closed at the moment. Trading at commodities and forex by-product section will even stay closed at the moment for Id-Ul-Fitra celebrations, states the web site.

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