Bank Holiday on Muharram: Banks in some states across India will remain closed on July 17, Wednesday on account of Muharram. One of the sacred months of the Islamic calendar, it marks the beginning of the Islamic year.
While Sunni Muslims observe the tenth day of Muharram as it marks the parting of the Red Sea by Moses and the salvation of the Israelites, often through voluntary fasting and expressions of joy. In contrast, Shia Muslims mark Ashura as a day of mourning to commemorate the death of Husain ibn Ali, the grandson of the Islamic prophet Muhammad and the third Shia imam.
As per the Reserve Bank of India’s rules, all private and public sector banks are closed on Sundays, every second and fourth Saturday in addition to regional as well as regional holidays.
Which states will see bank closure on July 17, 2024?
According to the latest reports, both private and PSU banks will remain closed in Maharashtra, Madhya Pradesh, Tripura, Tamil Nadu, Karnataka, Rajasthan, Meghalaya, Jharkhand, West Bengal, Himachal Pradesh, Mizoram, Jammu. Apart from these states, banks will be closed in the cities of Patna and Hyderabad.
Stocks markets to remain shut on July 17
Apart from banks across some states, the stocks markets – Bombay Stock Exchange and the National Stock Exchange – will also remain closed on the account of Muharram.