Attention to Customers – Bank Holiday on October 29? Check Out the Fact!! A total of 15 days of bank holidays were declared in October this year. Almost 14 days of vacation including festival days and weekends have ended. Government and private banks across the country were closed on these days including Diwali and weekends. However, some holidays were special holidays for states.
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Generally, 4 Sundays and the 2nd and 4th Saturdays of each month are observed as bank holidays. But there are 5 Saturdays in October. Due to this, confusion has arisen as to whether banks have a holiday on the fifth Saturday of the month or not. Meanwhile, as per the Reserve Bank of India (RBI) press release dated August 28, 2015, from September 01, 2015, full working days should be observed on Saturdays other than the second and fourth Saturdays.
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Accordingly, banks were closed on October 8 and 22 this year as they were the second and fourth Saturdays. But as per the above notification, it has been informed that the 5th Saturday i.e. October 29 will be a working day for banks. So customers are advised to avail of banking services without any doubts.