Schools and colleges remained closed for most part of May for summer holidays. With the start of June, banks may see more footfalls than other months due to these institutions resuming their activities. People approach banks for several reasons like investing, borrowing, operating their accounts, transferring money, safeguarding their valuables, and paying bills. The long list of services banks provide their customers makes them an important component of personal finances and businesses.
Financial planning is a crucially important activity for individuals, businesses and other entities. During June, people and businesses may start implementing their plans for the fiscal year ahead. After consolidating the accounts after the close of the financial year in March, many things would be falling in place during the month of June. Therefore, many people and businesses might need to plan for their investments, loans and other requirements and approach banks accordingly.
The recent decision by the government regarding the demonetization of Rs. 2000 currency notes will see banks expanding their services to take bank the outdated rupee notes. Most banks are operating special counters to accept the demonetized notes and issue notes of other current denominations. So, this situation has added one more reason for people to visit banks personally. The time to exchange the outdated rupee notes is September 2023, but people might not want to wait till the last day to exchange their notes.
Keeping track of
bank holidays is essential for financial planning and planning the other banking activities. In India, banks do not work on Sundays like many other private and public sector firms. The bank holidays in India are guided by the policies and guidelines issued by the Reserve Bank of India. The other holidays for banks include the second and the fourth Saturdays of every month, and regional and national holidays.
Bank holidays in June 2023
The sixth month of the Gregorian calendar i.e., June, has many regional holidays as well as a few national holidays as given below:
Date
| Day
| Holiday Description
| Applicable in
|
2 June 2023
| Friday
| Telangana Formation Day
| Telangana
|
4 June 2023
| Sunday
| Sant Guru Kabir Jayanti
| Chandigarh, Himachal Pradesh, Haryana, Punjab
|
4 June 2023
| Sunday
| Weekend Holiday
| All Over India
|
10 June 2023
| Saturday
| Second Saturday
| All Over India
|
11 June 2023
| Sunday
| Weekend Holiday
| All Over India
|
14 June 2023
| Wednesday
| Pahili Raja
| Orissa
|
15 June 2023
| Thursday
| Raja SankrantiYMA Day
| OrissaMizoram
|
15 June 2023
| Thursday
| Guru Hargobind Ji's Birthday
| Jammu and Kashmir
|
18 June 2023
| Sunday
| Weekend Holiday
| All Over India
|
20 June 2023
| Tuesday
| Ratha Yathra
| Orissa
|
10 June 2023
| Saturday
| Fourth Saturday
| All Over India
|
25 June 2023
| Sunday
| Weekend Holiday
| All Over India
|
29 June 2023
| Thursday
| Bakrid/Eid al Adha
| All over India except in some states
|
30 June 2023
| Friday
| Bakrid/Eid al Adha
| Jammu and Kashmir
|
30 June 2023
| Friday
| Remna Ni
| Mizoram
|
The proliferation of digital payments in India and the ease of banking functions on ATMs have reduced the reasons to visit banks in person. However, some high value transactions and important financial and banking functions are restricted to be carried out during bank hours only. Plan well in advance and you will not be stranded with any challenges posed by bank holidays.
