NEW DELHI:
Banks in India will be closed on these days in July due to various holidays in different areas of the country. Sundays, as well as the second and fourth Saturdays, are considered holidays.
There will be as many as 15 days in July when various banks around the country will be closed. Banks have regional holidays as well as weekly off days.
Nine of the 15 days when banks will be closed in July will be regional offs, which implies that not all banks in all states will be closed, but rather it will be a regional holiday.
The following six days will be weekly offs.
Banks in several states will be closed for nine days due to festivals, although the holiday will be state-specific.
Due to Bakrid or Eid-Ul-Adha, nearly all banks in the nation will be closed on July 21. Banks across the nation observe only gazetted holidays.
As per the Reserve Bank of India (RBI), bank holidays are classified into three types: holidays under the Negotiable Instruments Act, holidays under Real-Time Gross Settlement, and holidays due to account closing.
The Reserve Bank of India has announced the following bank holidays for July 2021:
12 July 2021: Kang (Rathajatra)/Ratha Yatra
13 July 2021: Bhanu Jayanti
14 July 2021: Drukpa Tshechi
16 July 2021: Harela
17 July 2021: U Tirot Sing Day/Kharchi Puja
19 July 2021: Guru Rimpoche's Thungkar Tshechu
20 July 2021: Bakrid
21 July 2021: Bakri Id (Id-Ul-Zuha) (Eid-UI-Adha)
31 July 2021: Ker Puja
Meanwhile, account holders should be aware that India's largest lender, State Bank of India (SBI), and several other private banks are altering their regulations beginning Thursday. Aside from SBI, Axis Bank, Bank of Baroda, IDBI Bank, and Canara Bank will change their policies on July 1.
Also, domestic stocks are expected to open flat on Friday, mirroring cautious trading in other Asian markets as investors across the world await US non-farm payrolls data coming later in the day. The US benchmark S&P500 set a new high for the sixth consecutive session on Thursday, boosted by weekly unemployment claims data, while a surge in Covid cases dampened mood in Asia.
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