📷 Image: Wikimedia Commons / Ben Schumin
Business
Banks to Remain Closed on Friday Due to Declared Bank Holiday
✍️ Times Bull
🗓 23 Oct 2026, 02:04 AM
👁 16
The Reserve Bank of India has announced a bank holiday on Friday, meaning all scheduled banking operations will be suspended.
New Delhi – The Reserve Bank of India (RBI) issued a circular confirming that all scheduled banking institutions will be closed on Friday following the declaration of a bank holiday. The notice, circulated to commercial banks and regional offices, states that the holiday is in line with a national observance and will apply to both public and private sector banks across the country.
The reason for the holiday is tied to a nationally recognised event, prompting the government and financial regulators to suspend routine banking services for the day. While physical branches will remain shut, the RBI has reminded customers that digital channels, including internet banking, mobile apps, and ATMs, will continue to operate as usual.
Customers and businesses are advised to plan transactions accordingly and to complete any urgent payments or fund transfers before the holiday. The RBI also urged corporate clients to anticipate the closure when scheduling payrolls, tax filings, and other time‑sensitive financial activities.
Financial analysts note that such closures are routine and typically have minimal impact on the broader economy, given the widespread availability of electronic banking services.
The reason for the holiday is tied to a nationally recognised event, prompting the government and financial regulators to suspend routine banking services for the day. While physical branches will remain shut, the RBI has reminded customers that digital channels, including internet banking, mobile apps, and ATMs, will continue to operate as usual.
Customers and businesses are advised to plan transactions accordingly and to complete any urgent payments or fund transfers before the holiday. The RBI also urged corporate clients to anticipate the closure when scheduling payrolls, tax filings, and other time‑sensitive financial activities.
Financial analysts note that such closures are routine and typically have minimal impact on the broader economy, given the widespread availability of electronic banking services.