Bank holidays in India may vary with 2019 each bank, but the Reserve Bank of India (RBI) has fixed certain days when operations will remain closed.
The wait was over and the new year 2019 is finally here! It’s time to set new goals and start a new journey. In addition, it is time to look forward to all major holidays of the year because it allows to plan things in advance. Bank holidays in India may vary with 2019 each bank, but the Reserve Bank of India (RBI) has fixed certain days when the operation will be closed.
Central Government holidays such as Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (2 October) for public sector and private banks will be applicable throughout the country. The banks adhere to Onam in some southern Indian states, such as Bihu in Assam, some regional holidays. The list of regional vacations varies with states.
Apart from these, there will be holidays on Id, Diwali, Buddha Purnima, Dusshera, and Christmas etc. Here are the bank holidays 2019 India –
January 1, 2019: New Year
January 14, 2019: Makar Shakranti / Pongal
January 26, 2019: Republic Day
March 4, 2019: Maha Shivaratri
March 21, 2019: Sacred
April 6, 2019: Uggadi / Gudi Padwa
April 13, 2019: Ram Navami
April 17, 2019: Mahavir Jayanti
April 19, 2019: Good Friday
1st May, 2019: Labor Day
May 18, 2019: Buddha Purnima
June 5, 2019: Eid al-Fitr
July 4, 2019: Rath Yatra
August 12, 2019: Bakri Id / Id ul-Adha
August 14, 2019: Raksha Bandhan
August 15, 2019: Independence Day
August 24, 2019: Janmashtami
September 2, 2019: Vinayak Chaturthi
September 10, 2019: Muharram
September 11, 2019: Onam
October 2, 2019: Mahatma Gandhi Jayanti
October 8, 2019: Dusshera / Dusshera
October 27, 2019: Diwali / Deepawali
November 10, 2019: Milad An Nabi
November 12, 2019: Guru Nanak’s Birthday
December 25, 2019: Christmas
If an official announcement is made, then the dates can change. Also, customers must keep in mind that all private and public sector banks are closed on the second and fourth Saturday of every month.
Why is the bank holiday
In the United Kingdom, some Commonwealth countries, Hong Kong and the Republic of Ireland, a bank holiday is a public holiday. There is no automatic right to shut down these days, but most people of the working population near the banks are given the time or extra salary to work on their contract basis, these days.
The first official bank holidays were nominated for four days in the Bank Holiday Act of 1871, but today the term is also commonly used for Good Friday and Christmas Day, which were already public holidays under common law and therefore England There were no official bank holidays in Wales, Northern Ireland and Scotland.
History of Bank Holiday
By 1834, the Bank of England celebrated the religious festivals as Holidays on the days of approximately 33 saints, but in that year it reduced to four: 1 May (May Day), 1 November (all saints day), Good Friday and Christmas Day. In 1871, the first law related to the bank’s holidays was passed when Liberal statesman and banker Sir John Lubok had introduced the Bank Holiday Act 1871, which specifies the days in the table below.
Under the Act, no person was obliged to do any payment or do any such work on bank holidays, which he would not compulsorate on Christmas day or Good Friday, and to pay or do any work. The next day was equal to doing so on the day of the holiday. People were so thankful that some of them first called on the days of Bank Holidays St. Lubock for a while. Scotland was treated differently due to its different traditions: for example, the new year is an important holiday there.
In this act, Good Friday and Christmas Day were not included as bank holidays in England, Wales, or Ireland because they were already recognized as general law vacations: they were customary holidays from the old .
In 1903, the Bank Holiday (Ireland) Act added March 17, St. Patrick’s Day only as a bank holiday for Ireland. By the day of Christmas Day 1958, there was no bank holiday in Scotland. The New Year’s Day was not a bank holiday in England until January 1, 1974. In Boxing Day Scotland, the bank did not make the holiday until 1974.