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



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.