'Basant Panchami': Are Banks Open Today Or Is It A Holiday?

In February 2024, there are a total of 11 holidays, taking into account both Saturdays and Sundays. Banks remain closed on the second and fourth Saturdays of every month.

Notably, 'Basant Panchami' or 'Saraswati Puja' is not designated as an official gazetted holiday.

'Basant Panchami' is a celebration of the start of spring. It is celebrated on the first day of spring and the fifth day of the month of Magha. The festival is about honouring the Hindu goddess Sarasvati.

During this festival, folks wear yellow clothes and enjoy a sweet dish called 'kesar halwa', made with flour, sugar, nuts, and cardamom powder. Students also take part by placing their books and stationery near the goddess's statue, hoping for her blessings on their studies.

The closure schedule for banks is determined by the Reserve Bank of India (RBI), taking into account various factors such as national or state holidays, cultural or religious occasions, operational requirements, government mandates, and coordination with other financial institutions. The RBI communicates these holidays to the public through its website and by sending notifications to banks and financial organisations.

According to the RBI holidays list, banks in Agartala, Bhubaneswar, and Kolkata are closed due to 'Basant Panchami.'

Bank Holidays This Month

• February 14: Banks will remain closed in Agartala, Bhubaneswar, and Kolkata due to 'Basant Panchami' or 'Saraswati Puja.'
• February 15: Banks will remain closed in Imphal because of 'Lui-Ngai-Ni.'
• February 18: Sunday
• February 19: Banks will remain closed in Belapur, Mumbai, and Nagpur in respect of Chhatrapati Shivaji Maharaj Jayanti.
• February 20: Banks will remain closed in Aizawl, Itanagar, due to State Day or Statehood Day.
• February 24: Second Saturday
• February 25: Sunday
• February 26:Banks will remain closed in Itanagar due to 'Nyokum.'