Public and private sector banks in several states will be closed on Monday (September 16) in observance of Eid-E-Milad. This significant celebration honors the birth of Prophet Muhammad and is known by various names including Muhammad’s Birthday, Nabi Day, or Mawlid.
Recognised as a public holiday in India, Eid-E-Milad is celebrated with great joy by Muslims around the world. Prophet Muhammad was born in Mecca, Saudi Arabia, and his teachings continue to benefit communities globally.
Banks will be closed in which states?
Banks will be closed in the states of Gujarat, Mizoram, Karnataka, Tamil Nadu, Uttarakhand, Andhra Pradesh, Telangana, Manipur, Jammu, Kerala, Uttar Pradesh, New Delhi, Chhattisgarh, and Jharkhand for this occasion.
However, the Reserve Bank of India issued a press release on September 14 stating that the Government of Maharashtra has revised the public holiday schedule. September 18, 2024, will now be observed as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The previously declared holiday on September 16 has been canceled.
“The Government of Maharashtra has declared September 18, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on September 16, 2024 declared earlier has been cancelled. Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions due on September 18, 2024 (Wednesday) will get postponed to the next working day, i.e., September 19, 2024 (Thursday),” according to a RBI release.
Although bank branches will be closed, online banking services will remain accessible, allowing customers to conduct transactions, check balances, and manage their accounts from home or on the go.