Banks to remain closed in several states on September 29 due to Eid-e-Milad

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Banks to remain closed in several states on September 29 due to Eid-e-Milad

What is Eid-e-Milad?

Eid-e-Milad, also known as Milad-un-Nabi and Mawlid-un-Nabi, is one of the prominent Muslim festivals, which commemorates the birth anniversary of Prophet Muhammad. This year, Eid-e-Milad will be celebrated on September 28, and some cities will witness the closure of banks on September 28 and 29 in observance of the festival. Eid-e-Milad is observed by Sunni Muslims on the 12th day of Rabi’ al-awwal, the third month of the Islamic calendar, while Shia Muslims observe it on the 17th day of Rabi’ al-awwal, according to the Gregorian calendar, which is based on the sighting of the crescent moon.

Which states will have bank holidays on September 29?

According to the Reserve Bank of India (RBI) holiday calendar, banks will remain closed in some states on September 29. These states are:

  • Sikkim
  • Jammu
  • Maharashtra
  • Srinagar

The reason for the bank holiday in these states is either Eid-e-Milad or Indrajatra, a festival celebrated by the Newar community in Nepal and some parts of India. Indrajatra marks the end of monsoon and the beginning of harvest season. It is also known as Yenya Punhi or Kumari Jatra.

How will bank customers be affected by the holiday?

The bank holiday on September 29 will affect the banking services in these states. Customers will not be able to avail offline services such as cash deposits, withdrawals, cheque clearance, and loan applications. However, online banking services, including mobile and internet banking, will remain operational as usual. Customers can also use ATMs for cash transactions.

Banks to remain closed in several states on September 29 due to Eid-e-Milad

The bank holiday on September 29 comes after a series of holidays in the month of September. There were 16 bank holidays in September this year across different states on different occasions including Sri Krishna Janmashtami and Ganesh Chaturthi.

What are the other upcoming bank holidays in October?

The next month will also have several bank holidays due to various festivals and events. Some of the major bank holidays in October are:

  • October 2: Gandhi Jayanti (National Holiday)
  • October 6: Mahalaya Amavasya (Holiday in some states)
  • October 12: Maha Saptami (Holiday in some states)
  • October 13: Maha Ashtami (Holiday in some states)
  • October 14: Maha Navami/Dussehra (Holiday in some states)
  • October 15: Dussehra/Vijaya Dashami/Bakri Id (Holiday in some states)
  • October 19: Eid-e-Milad (Holiday in some states)
  • October 20: Lakshmi Puja (Holiday in some states)

Customers are advised to plan their banking activities accordingly and check the holiday list of their respective states before visiting the bank branches.

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