Bank Holidays August 2023: Banks will be closed for fourteen days in the month of August this year. Out of these, banks will be shut on all Sundays as well as second and fourth Saturdays. The Reserve Bank of India (RBI) has placed the holidays under three brackets- Holiday under the Negotiable Instruments Act; Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holidays; and Banks’ Closing of Accounts.
The eight bank holidays include Tendong Lho Rum Faat, Independence Day, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam, Raksha Bandhan, Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol.
Bank holidays list for August 2023
August 8 (Tendong Lho Rum Faat): Bank Holiday in Sikkim
August 15 (Independence Day): Bank holiday across India
August 16 (Parsi New Year- Shahenshahi): Bank holiday in Belapur, Mumbai, and Nagpur
August 18 (Tithi of Srimanta Sankardeva): Bank holiday in Guwahati
August 28 (First Onam): Bank holiday in Kochi and Thiruvananthapuram
August 29 (Thiruvonam): Bank holiday in Kochi and Thiruvananthapuram
August 30 (Raksha Bandhan): Bank holiday in Jaipur and Shimla.
August 31 (Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol): Bank holiday in Dehradun, Gangtok, Kanpur, Kochi, Lucknow and Thiruvananthapuram.
Bank Holidays August 2023: List of weekend leaves
August 6: Sunday
August 12: Second Saturday
August 13: Sunday
August 20: Sunday
August 26: Fourth Saturday
August 27: Sunday
Banks in India may remain open only 5 days a week
The United Forum of Bank Unions (UFBU) has sought that working days for banks remain five days a week only, also that employees get 2 days weekly off. At present, bank employees get off on Sundays, and second and fourth Saturdays. They also get holidays on festivals, and the Reserve Bank of India (RBI) prepares the holiday list. Online services, however, remain functional on holidays as well.
The demand for a 5-day work week first came after the policy was implemented in the Life Insurance Corporation (LIC) of India, in May 2021.The Finance Ministry of India had earlier informed that they have no objection to the UBFU’s demand for a five-day work week for bank employees.
Source By: livemint
