In July, banks will remain closed for almost half a month, including seven holidays on Sundays and Saturdays. Reserve Bank of India (RBI) has prepared a list of bank holidays in July, which will allow banks to remain closed owing to different reasons. On these bank holidays, all branches of public, private, foreign, co-operative and regional banks remain shut.
The Reserve Bank charts out bank holidays in three categories: 'Holiday under the Negotiable Instruments Act', 'Holiday under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday', and 'Banks' Closing of Accounts'.
Bank holidays are regional and may differ from state to state and lender to lender. Several bank holidays are decided on region-specific occasions and state-specific festivals.
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