The Reserve Bank of India (RBI) had issued a list of bank holidays for the month of August 2021. As a result, banks across India were looking at a total of 15 holidays at the beginning of the month. However, as the calendar month had progressed, the holidays have come and gone, leaving just four more holidays for lenders in August. In total, there were 15 holidays, 8 of which were on the RBI’s list of bank holidays. The other 7 were weekend leaves. The RBI list of holidays could be separated into three different categories, which are state-wise holidays, religious holidays and festivals.
The RBI itself classified the holidays for the month of August under the category of ‘Holiday under Negotiable Instruments Act’. The other classifications for the RBI listing are ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’ and ‘Banks’ Closing of Accounts’.Having said that, the other two classifications don’t apply to this month according to the mandate of leaves.
None of the holidays from the RBI list were uniform for all the states. This means they applied at different intervals for the different states. The only uniform offs were the weekends, i.e., Sundays as well as the second and fourth Saturdays of the month. It should be noted that there were two major leaves where a large majority of states and cities where banks were given leave to celebrate it on the same day, keep in mind, this was still not pan-India. The first one of the major holidays was on August 19, which was Muharram (Ashoora) that saw an off for banks in Agartala, Ahmedabad, Belapur, Bhopal, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi and Srinagar. A total of 17 cities celebrated this leave.
The other major holiday is yet to come and is set to take place on August 30, 2021. This holiday is Janmashtami (Shravan Vad-8)/Krishna Jayanthi and it will take place in the cities of Ahmedabad, Chandigarh, Chennai, Dehradun, Jaipur, Jammu, Kanpur, Lucknow, Patna, Raipur, Ranchi, Shillong, Shimla, Srinagar and Gangtok. A total of 15 cities will see their lenders take an off on this day.
Other holidays that bank-going customers have to be wary of are towards the last four days of the month. The last four days of the month have back-to-back holidays starting on August 28 and ending on August 31. August 28 is the fourth Saturday of the month, while August 29 is a Sunday, so all banks will be closed this coming weekend. August 31 is Sri Krishna Ashtami, so only banks in Hyderabad will be closed on this day. Whatever the case may be, plan your next visit to the bank carefully, after considering the dates and your geography, relative to the list.
Here is the full list of holidays for the month of August 2021, as per RBI mandate: (Counting from August 24 onwards)
1) August 28, 2021 – Fourth Saturday
2) August 29, 2021 – Sunday
3) August 30, 2021 – Janmashtami (Shravan Vad-8)/Krishna Jayanthi (Ahmedabad, Chandigarh, Chennai, Dehradun, Jaipur, Jammu, Kanpur, Lucknow, Patna, Raipur, Ranchi, Shillong, Shimla, Srinagar and Gangtok)
4) August 31, 2021 – Sri Krishna Ashtami (Hyderabad)
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