Diwali holidays: Are banks closed on November 1 and 2
Diwali celebrations in 2024 have resulted in different bank holiday schedules across India. Banks will remain shut on November 1 in states such as Tripura, Karnataka, Uttarakhand, Jammu & Kashmir, Maharashtra, Meghalaya, Sikkim and Manipur. This is because of the observance of Deepavali, Kut and Kannada Rajyotsava. On November 2, banks in Gujarat, Maharashtra, Karnataka Rajasthan Sikkim Uttarakhand and Uttar Pradesh will also remain shut for Diwali-related festivities such as Laxmi Puja and Govardhan Pooja.
RBI announces 12-day bank closure in November
The Reserve Bank of India (RBI) has released a schedule according to which banks will remain closed for 12 days in November 2024 on account of various regional festivals and events. These include all Sundays and the second and fourth Saturdays. On November 3, which falls on a Sunday, banks across all Indian states and union territories will remain closed.
Online banking services to remain operational during holidays
Despite the bank holidays in some states, online banking services via websites and UPI transactions will continue to remain functional. ATMs and cash deposit machines will also operate as usual during these holidays. The RBI's bank holiday schedule emphasizes the need to check local observances to plan banking activities accordingly during this festive season.
Stock exchanges to remain closed on Diwali day
Apart from bank closures, the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will also not trade on Diwali day. However, Muhurat Trading will be held for one hour from 6:00pm to 7:00pm on Friday. The RBI's bank holiday schedule emphasizes the need to check local observances to plan banking activities accordingly during this festive season.
