With the commencement of the 7 month i.e August 2020, here comes a piece of important news related to banks. Due to lots of festivity in the month, ahead banks in India shall remain close for 16 days in August 2020.
The Bank holidays in August will start with Bakr-id and will end with the Onam festival on August 31. According to the Reserve Bank of India’s (RBI’s) holiday list, the Baqrid holiday is on August 1, Saturday followed by Sunday, another holiday.
Raksha Bandhan is on August 3 and banks will remain closed. Then comes August 8, which is a second Saturday followed by a Sunday.
These will be followed by Shri Krishna Janmashtami on August 11 and Independence Day on August 15. August 16 will also be a holiday on account of a Sunday. Teej will be celebrated on August 21 followed by Ganesh Chaturthi on August 22, also fourth Saturday.
August 23 is a Sunday while August 30 is Muharram, which falls on Sunday. Onam will be celebrated on the last day of the month, August 31. However, there will be separate holidays for the states.