Tomorrow is a bank holiday? Will Banks Stay Closed on January 22 Because of the Ayodhya Pran Pratishtha Ceremony?

Banks will be closed for more than three days next week because of Sunday, January 28, Republic Day (January 26), and Fourth Saturday (January 27). Since this will be a long weekend week, it is important to keep track of the bank holidays by using the RBI Holiday Calendar. This will ensure that all of your bank-related activities, including financial transactions, are finished on time and that you don’t have any last-minute inconveniences.

The list of bank holidays is released by the Reserve Bank of India (RBI) and is determined by a number of criteria, including government announcements, operational needs, cultural or religious observance, regional and national holidays, and collaboration with other banks.

“There will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets, and Rupee Interest Rate Derivatives on January 22, 2024 (Monday),” the RBI said in a press statement dated January 19. As a result, settlement of all pending transactions will be delayed until Tuesday, January 23, 2024, which is the following working day.”

There are more than 16 bank holidays in January 2024, in addition to the ordinary holidays of Sundays and the second and fourth Saturdays. On Sundays and the second and fourth Saturdays of the month, all Indian banks—private and PSU—are closed.

It should be noted that access to vital digital services like the Internet, UPI, and mobile banking is not affected by bank holidays. People may use the Internet to do financial business even when banks are closed.

In honor of the dedication of the Ram Temple in Ayodhya on January 22, the Reserve Bank of India (RBI) has declared that there would be no transactions or settlements in government securities, foreign currency, money markets, or rupee interest rate futures.

All central government workers will work a half-day on Monday, according to an announcement made by the union government. During the Ram Mandir consecration event, this order will continue to be in place for all central government offices, central institutions, and central industrial organizations.

The following states have formally designated January 22 as a public holiday in honor of the opening of the Ram Mandir: Uttar Pradesh, Madhya Pradesh, Goa, Haryana, Chhattisgarh, Tripura, Odisha, Maharashtra, Assam, and Gujarat.

On January 22, government offices in Delhi will be closed for a half-day in honor of the dedication ceremony of the Ram temple in Ayodhya. According to a Raj Niwas official, Lieutenant Governor V K Saxena has given the go-ahead for a half-day vacation on January 22 for all government offices, civic organizations, and other activities in Delhi.

The three categories for all bank holidays are Banks’ Closing of Accounts; Holiday under the Negotiable Instruments Act; and Holidays under the Negotiable Instruments Act and Real Time Gross Settlement Holidays.