Banks in some parts of the country will remain closed on April 29 in observance of Bhagwan Shri Parshuram Jayanti. The day celebrates the birth anniversary of Lord Parshuram, the sixth avatar of Lord Vishnu in Hindu mythology. According to the Hindu calendar, Parshuram Jayanti is celebrated on Akshaya Tritiya, however it is being celebrated a day before this year.
RBI classifies holidays into three categories: Real-Time Gross Settlement Holiday, Banks’ Closing of Accounts Holiday, and Holidays Under the Negotiable Instruments Act. Banks remain closed on the second and fourth Saturdays of every month.
Are banks closed on April 29?
There is no nationwide bank holiday on April 29, however, banks in Himachal Pradesh will stay shut today on the occasion of Parshuram Jayanti. All other states will observe normal functioning of banks. According to the Reserve Bank of India’s (RBI) official holiday calendar, April 29 is not a uniform public holiday.
Thereafter, few areas of the country will observe a bank holiday on April 30 as well on the occasion of Basava Jayanti/Akshaya Tritiya. The central bank has notified in its bank holiday calendar that financial institutions in Karnataka will observe closures for Basava Jayanti and Akshaya Tritiya.
On May 1 as well, certain regions will see a bank holiday in observance of Maharashtra Din/May Day (Labor Day). Banks will not operate in regions including Maharashtra (Mumbai, Nagpur, Belapur); Karnataka (Bengaluru); Tamil Nadu (Chennai); Assam (Guwahati); Andhra Pradesh and Telangana (Hyderabad); Manipur (Imphal); West Bengal (Kolkata); Goa (Panaji); Bihar (Patna), and Kerala (Kochi, Thiruvananthapuram).
Despite the banks remaining shut on these specific days, customers can access banking services via net banking, ATMs, mobile applications, and bank websites.