Bank holiday: Banks in India follow a varied holiday schedule depending on the state, apart from observing national holidays. While some states will have bank holidays on Tuesday (December 31), others will see it as a regular working day. This year, banks in Mizoram and Sikkim will remain closed on Tuesday, due to New Year's Eve, Lossong or Namsoong celebrations.
The festival of Loosong or Namsoong is mostly celebrated in the month of December every year with traditional gaiety and colour both by Lepchas and Bhutias. Lossong/Namsoong, celebrated in Sikkim and Mizoram, marks the end of the harvest season at the end of the tenth month of the Tibetan Year. Taking a cue from a good harvest and praying for even better prospects for the next crop, the festival is marked by religious masked dances in Enchey Monastery.
State-specific bank holidays
India's bank holidays often depend on regional festivities and observances, leading to differences across states. However, all scheduled and non-scheduled banks uniformly observe holidays on the second and fourth Saturdays of each month. Notably, if a month includes a fifth Saturday, banks remain operational on that day.
National holidays for banks
Apart from state-specific holidays, banks nationwide are closed on key national holidays, including Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2).
Online banking services remain unaffected
While banks may be closed physically, digital banking options like Net banking, mobile banking, and UPI services will continue to function uninterrupted. However, prolonged holidays could lead to disruptions in ATM cash availability. Customers are advised to ensure that their online banking services are active and linked to their registered mobile numbers to facilitate transactions.
ALSO READ: Bank holidays in January 2025: Banks to remain shut on these dates | Check full list
