Bank Holidays Alert! In February 2020 while there aren’t any national holidays, India celebrates a number of regional public In the second month of the year i.e., February, there are lesser number of days as compared to the other months. In February, banks to remain closed for 10 days.
Among major festivals in February 2020, Maha Shivaratri falls on February 21 and banks in India will observe a holiday. Also, some banks in select states will also observe regional holidays. Stock, currency, derivatives and commodity markets will also be closed on Mahashivratri, February 21, 2020.
As per the RBI regulations, all the banks will observe holidays on the Second and Fourth Saturdays of the month.
The right planning of banking activities will ensure that customers do not get strangled on bank holidays confronting an important financial transaction.
So, One will have to plan in advance to ensure that they do not run out of cash. Due to bank holidays, there may also be a shortage of cash in an ATM machine due to bank holidays.
One can also check the list of holidays on the official website of Reserve Bank of India (RBI). Last month, banks were closed for 7 days including Saturdays and Sundays. Meanwhile, the customers need to keep in mind that all private and public sector banks are closed on the second and fourth Saturdays of every month.