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  5. Plan in advance: Banks shut in Jan 2024 for New Year, Republic Day and more

Plan in advance: Banks shut in Jan 2024 for New Year, Republic Day and more

Plan in advance: Banks shut in Jan 2024 for New Year, Republic Day and more
January, the first month of the year 2024 will unfold in front of us very soon in all its freshness, bringing a lot of hopes and promises. While we enter into the New Year, we reflect on the lessons learnt in the year that passed by and will come out with some plans and resolutions for the New Year. Financial planning is one of the most crucial tasks we must do with due care for the betterment of our personal, familial and professional lives. Reflecting on the importance of banks in our lives, it is also time to develop some strategies to use banking services in a better way as it would help improve our finances and other processes in a comprehensive way.

In India, both public sector and private sector banks follow the guidelines issued by the Reserve Bank of India with regard to their policies, offerings, schemes and holidays. The two types of holidays that apply to banks in India are national and regional holidays. While the former type of holidays are applicable to banks across the nation, regional holidays apply to banks in different states according to the holiday intimation published in the respective state gazette. In addition, banks in the country remain closed on Sundays in addition to second and fourth Saturdays.

Keeping track of bank holidays is necessary to avoid any disruptions in our financial planning and scheduling our banking activities. Since we depend on banks for several needs connected to our personal, familial and professional lives, we must stay up to date with bank holidays so that we schedule our bank visits for important banking functions on bank working days. Here is the list of bank holidays for January 2024.

Bank holidays in January 2024

Date

Day

Description

Applicable in

1 January 2024

Monday

New Year's Day

All over India

7 January 2024

Sunday

Weekend holiday

All over India

11 January 2024

Thursday

Missionary Day

Mizoram

12 January 2024

Friday

Swami Vivekananda Jayanti

West Bengal

13 January 2024

Saturday

Second Saturday

All over India

13 January 2024

Saturday

Lohri

Punjab and other states

14 January 2024

Sunday

Sankranti

Several states

14 January 2024

Sunday

Weekend holiday

All over India

15 January 2024

Monday

Pongal

Tamil Nadu, Andhra Pradesh

15 January 2024

Monday

Thiruvalluvar Day

Tamil Nadu

16 January 2024

Tuesday

Tusu Puja

West Bengal and Assam

17 January 2024

Wednesday

Guru Govind Singh Jayanti

Several States

23 January 2024

Tuesday

Netaji Subhas Chandra Bose Jayanti

Many States

25 January 2024

Thursday

State Day

Himachal Pradesh

26 January 2024

Friday

Republic Day

All over India

27 January 2024

Saturday

Fourth Saturday

All over India

31 January 2024

Wednesday

Me-Dam-Me-Phi

Assam



Take Away

The advent of digital banking has made banking a highly convenient experience for all segments of people. With the sophisticated digital banking technology, we can do online banking via our internet enabled devices. Also, ATMs across the country provide crucial banking functions at convenient locations. Therefore, the need to visit banks physically has come down. Nevertheless, keeping track of banking holidays will help avoid some last minute disappointments when we look forward to some banking functions that are done only during bank working hours.



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