Lenders in India's public and private sectors will remain closed for around 6 days in the remaining days of July. The Reserve Bank of India, or RBI, has already published a schedule of bank holidays for July 2022.
At the start of each year, the central bank compiles a monthly schedule of bank holidays, according to which lenders in specified regions stay closed. There are six bank holidays remaining in July, according to that calendar.
It should be noted that many bank holidays are regional in nature and may vary from state to state and from bank to bank. In July, there were 14 bank holidays, eight of which have been utilized.
Some bank holidays, however, are region-specific. For example, while July 16 is a bank holiday in Dehradun, banks in the rest of the country are open.
Each year, the Reserve Bank schedules bank holidays in three categories: Negotiable Instruments Act Holiday, Real Time Gross Settlement Holiday, and Banks' Closing of Accounts. Among them, the 'Holiday under Negotiable Instruments Act' category has the most holidays.
However, under this statute, bank holidays are not standard across the country. The Negotiable Instruments Act applies to eight of the bank holidays in July, while the remaining are weekend leaves on which all banks in India would be closed.
On announced RBI holidays, all branches of public and private sector banks, foreign banks, cooperative banks, and regional banks remain closed.
Bank to Remain Shut for 6 Days in the Remaining Half of July
July 16: Harela
July 26: Ker Puja
July 17: Third Sunday
July 23: Fourth Saturday
July 24: Fourth Sunday
July 31: Fifth Sunday
