Raksha Bandhan Bank Holiday: The month of August has many festivals and so the banks and other institutions will be closed to the public. Raksha Bandhan will be celebrated on August 11, and 12 which happens to be Thursday, and Friday. Therefore, government and private institutions including banks, barring those involved in emergency services, will be shut for the public.
However, according to the Reserve Bank of India’s bank holiday circular, not all cities/states have common holidays. The holidays vary in each state. Raksha Bandhan in many states will be celebrated on August 11 and a few others will observe it on August 12.
Raksha Bandhan Bank Holiday: Take a look at states where banks will be closed for Raksha Bandhan, i.e., August 11 and 12.
August 11, 2022 (Thursday) Raksha Bandhan-Gujarat, Madhya Pradesh, Uttarakhand, Rajasthan, Himachal Pradesh.
August 12, 2022 (Friday)- Raksha Bandhan – Uttar Pradesh.
August 13 is the second Saturday, so banks will be closed. Further, banks across the nation will be closed for Independence Day on August 15 (Monday)
In Maharashtra, banks will also be closed for four days starting on August 13 (Second Saturday ) and ending on August 16 (Parsi New Year).
The RBI has already issued a schedule of bank holidays for August 2022. The bank holidays will be observed in accordance with the schedule.
Banks will be closed on the following dates: August 8, 9, 11, 12, 13, and 14 for Muharram, Raksha Bandhan, Patriot’s Day, and the weekend.
Each year, the RBI categories bank holidays into three categories: Negotiable Instruments Act Holiday, Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts. Banks throughout the country will be closed on August 15, which is a Monday this month.