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The article discusses the observance of Eid-e-Milad-un-Nabi, a significant Islamic festival commemorating the birth of Prophet Muhammad, and its impact on bank operations in India. The article states that banks in numerous cities across India are closed today, September 16, 2024, due to the holiday. While physical banking services are suspended, the article emphasizes that online and digital banking services remain functional, enabling customers to continue their banking transactions seamlessly. The article further clarifies that the Reserve Bank of India (RBI) provides an annual holiday calendar outlining national holidays and state-specific festivals, which includes details about bank closures.
The article details the RBI's announcement regarding the holiday calendar for September 2024. It emphasizes the cancellation of a previously declared public holiday on September 16th due to a revised government decision in Maharashtra. Instead, September 18th has been declared a public holiday. This revised schedule impacts the settlement of transactions in government securities, foreign exchange, money markets, and rupee interest rate derivatives, with settlements postponed to the next working day. The article continues by highlighting the significance of Eid-e-Milad-un-Nabi, also referred to as Mawlid, as a public holiday observed by Muslims worldwide. It underscores the celebration of the Prophet Muhammad's birth, emphasizing its importance in Islamic faith.
The article provides a list of Indian states where banks are closed today, September 16th, in observance of Eid-e-Milad. The list includes states like Gujarat, Mizoram, Maharashtra, Karnataka, Tamil Nadu, Uttarakhand, Hyderabad-Andhra Pradesh, Hyderabad-Telangana, Manipur, Jammu, Kerala, Uttar Pradesh, New Delhi, Chhattisgarh, and Jharkhand. The article further provides a list of additional bank holidays in September, including Sree Narayana Guru Samadhi Day on September 21st in Kerala, the birthday of Maharaja Hari Singh Ji on September 23rd in Jammu and Srinagar, and the Fourth Saturday and Sunday on September 28th and 29th, respectively. The article serves as a practical guide for individuals planning to visit banks during the period, highlighting the importance of checking the operational status of banks in their respective regions.
Source: Eid-e-Milad 2024 bank holiday: Are banks closed today? Check details