Bank Holidays On Republic Day 2024 Weekend: Is There A Three-Day Holiday For Banks? Get The Details

Over the unfolding week, preparations for a three-day weekend are underway as banks gear up for closures commencing from Friday, spanning January 26, 27, and 28, in observance of Republic Day.

In January 2024, banks are slated for a total of 16 holidays, incorporating the second and fourth Saturdays, Sundays, and various regional holidays.

Is it a long weekend for bank employees?

The compilation of bank holidays is the responsibility of the Reserve Bank of India (RBI), determined by factors such as national/state holidays, cultural or religious observances, operational necessities, government announcements, and coordination with other banks.

Key dates for bank closures this week are as follows:

• January 23 (Tuesday): Gaan-Ngai - Banks in Manipur are closed due to the Gaan-Ngai festival.
• January 25 (Thursday): Thai Poosam/Birthday of Md. Hazarat Ali - Tamil Nadu, Maharashtra, and Uttar Pradesh will observe bank closures on this day.
• January 26 (Friday): Republic Day - Banks across India will remain closed in observance of Republic Day. This year, the holiday falls on a Friday, creating an extended weekend with the subsequent regular fourth Saturdays and Sundays.
• January 27 (Fourth Saturday): Weekend Closure
• January 28 (Sunday): Weekend Closure

Furthermore, a half-day working was observed on January 22, as per an order issued by the Ministry of Finance on January 18. Public sector (PSBs) and regional rural banks had a half-day off for the Ram temple consecration ceremony in Ayodhya.

On January 22, banks in specific states and cities like Imphal, Kanpur, Lucknow, and Panaji were closed due to the consecration ceremony of Lord Shri Ram in the temple built in the Shri Ram Janmabhoomi complex/Imoinu Iratpa, as per the RBI holiday calendar.

These closures are officially recognized as holidays under the Negotiable Instruments Act. Private bank branches in Uttar Pradesh, including major lenders such as HDFC Bank and Axis Bank, were also closed on January 22, 2024, with HDFC Bank observing a full-day closure in UP and Uttarakhand, while Axis Bank remained closed for the entire day in Uttar Pradesh.