Bank Holiday Tomorrow: Will Banks Remain Closed On June 6 Or 7 In Your City? Check List
Last Updated:
National Holiday On June 6: Banks across several parts of India will remain closed for two days this week in observance of Eid-ul-Ad'ha
Bank Holiday June 6: Banks across several parts of India will remain closed for two days this week in observance of Eid-ul-Ad'ha (Bakrid) and Bakri ID (Id-Uz-Zuha). As per the Reserve Bank of India (RBI)'s holiday calendar, public sector and private sector banks will be closed on June 6 and June 7. Additionally, banks nationwide will remain shut on Sunday, June 8, due to the regular weekly holiday.
Customers and account holders are encouraged to check the RBI's holiday calendar regularly, as bank holidays in India vary by state and are influenced by national, regional, and religious festivals. Some holidays are nationwide, while others are specific to certain states.
June 2025 Bank Holiday Schedule
June 6 (Friday): Banks in Thiruvananthapuram and Kochi will be closed to mark Bakrid, an Islamic festival commemorating Prophet Ibrahim's devotion and willingness to sacrifice his son.
June 7 (Saturday): Most banks across the country will remain closed for Bakrid, except in Ahmedabad, Gangtok, Itanagar, Kochi, and Thiruvananthapuram. These cities will have normal banking operations since it's the first Saturday of the month (only second and fourth Saturdays are bank holidays).
June 8 (Sunday): Nationwide bank holiday as part of the regular Sunday closure.
top videos
View All
Are online banking services available?
Yes, online banking services will be fully functional on these days. Customers can carry out financial transactions using UPI, internet banking, and mobile banking services. Facilities like money transfers (NEFT/RTGS), demand drafts, cheque book requests, and card services will remain accessible online, even on these bank holidays.
About the Author
Aparna Deb
First Published:
June 05, 2025, 10:13 IST
Latest News
iPhone 17 Display Upgrades Could Miss Out On This Useful Feature: How It Matters
Tech
Agency feeds
HC-CASES
Agency feeds
Rupee falls 9 paise to 85.96 against US dollar in early trade
Agency feeds
Man kills wife in Thane, absconds; police launch probe
Agency feeds
Sunny morning in Delhi, rain likely
latest news
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
RBI throws a surprise party with big rate cut and Rs 2.5 lakh crore boost
Reuters RBI Governor Sanjay Malhotra The Reserve Bank of India (RBI) Friday shed its customary conservatism to deliver double the policy rate cut than anticipated by investors, amid receding inflation concerns. It also opened the liquidity floodgates to add Rs 2.5 lakh crore for onward lending to help restore the pace of economic expansion near the 8% aspirational threshold. The Monetary Policy Committee (MPC) also changed its stance to 'neutral' from 'accommodative' in what appears to be a signal that, amid expected global uncertainties, Mint Road has frontloaded its policy actions and would hit the pause button unless incoming datasets compel it to take further rate measures. "Strong macroeconomic fundamentals and benign inflation outlook provide space to monetary policy to support growth, while remaining consistent with the goal of price stability," said RBI governor Sanjay Malhotra, who has delivered three consecutive rate cuts in each of the reviews he has chaired since February. "The changed growth-inflation dynamics calls for not only continuing with policy easing, but also frontloading rate cuts to support growth." The half-a-percentage-point reduction in policy rates to 5.5% is expected to immediately lower home loan rates for borrowers with floating-rate loans, and borrowing costs for small entrepreneurs. One basis point is a hundredth of a percentage point. The rate cut is expected to immediately lower home loan rates for borrowers with floating rate loans, and borrowing costs for small entrepreneurs. At the same time, banks will start reducing deposit rates to protect margins. Easing food prices and benign crude oil prices prompted RBI to lower FY26 inflation estimates to 3.7%, from 4%, while it retained the fiscal year growth forecast at 6.5%, as announced in April. 'It is safe to say we have won the war on inflation,' Malhotra said. The rate-setting committee lowered the repo rate to the lowest in three years. All other policy rates stand revised accordingly. The central bank governor's surprise gift of a higher-than-expected rate cut and liquidity booster follows a series of measures to ease monetary conditions so banks and non-banks step up lending. Since taking charge in December, he has now lowered the repo rate and cash reserve ratio (CRR) by 100 basis points each, besides easing guidelines such as those on the liquidity coverage ratio and risk weights on bank loans to finance companies. Hot property The indices gained and yields on the benchmark paper fell to 6.14%, but later closed at 6.29%, after Malhotra announced a change in the policy stance. The rupee opened at 85.86 against dollar and strengthened to close at 85.62. 'The policy is definitely positive for all sectors of the economy, particularly for banking and finance,'' said CS Setty, chairman of State Bank of India. 'In particular, the lower cost of borrowing will act as a counterbalance to any uncertainty.' The reduction in CRR to 3% will be in four stages — of 25 bps each between September and would infuse an estimated Rs 2.5 lakh crore of liquidity into the banking system. On growth, RBI said it remains lower than 'aspirations,' given the challenging global environment. 'Our aspiration is 8%. We would like to grow as fast as possible,' said governor also hinted at a likely pause in the rate action after the outsized cut that surprised most market watchers. 'After having reduced the policy repo rate by 100 bps in quick succession since February 2025, under the current circumstances, monetary policy is left with very limited space to support growth,' he said. 'Action over mere intent' 'We could have kept it accommodative and not done anything. Action is more important. Whatever we say should also translate into action. The accommodative stance was only an intent,' said the governor. He also said the transmission has been good after the previous two rate cuts. 'We need to do it faster and that is why we have frontloaded some of our actions,' he said. Malhotra added that the move will certainly increase the flow of credit. 'That is why this liquidity is important and reducing the repo rate is important.' On inflation, the RBI governor said, 'Most projections point toward continued moderation in the prices of key commodities, including crude oil.... we need to remain watchful of weather-related uncertainties and still evolving tariff related concerns with their attendant impact on global commodity prices.'The minutes of the meeting of this policy review are expected to be published in about a fortnight. The next MPC review meeting is scheduled August 4-6.
Time of India
2 hours ago
- Time of India
Manufacturing, youth in focus as Telangana takes steps to reach $1 trillion goal by 2035
1 2 3 Hyderabad: Telangana govt intends to implement multiple measures to achieve its goal of a $1 trillion economy by 2035. The current value of Telangana's economy is around $200 billion, while Maharashtra stands at $500 billion. It's estimated that Telangana will take about 15 years to hit $1 trillion economy, but to fast forward it to 2035 the govt is putting in place a policy focussed on four aspects – zoning for industrial growth, skill development, low population growth and woman's participation. On Friday, chief secretary K Ramakrishna Rao held a vision meeting to discuss the goal of reaching a $1 trillion economy by 2035 and $3 trillion by 2047. The state govt has given serious consideration to the recent observation of former Reserve Bank of India governor C Rangarajan that Telangana is among four states in the country with the highest potential to become developed by 2047. "The chief secretary said that to achieve this goal by 2035, a distinct vision and focus was essential," a source said. The meeting also addressed chief minister A Revanth Reddy's perspective that GSDP figures should be calculated with specific targets set for cities, particularly for Hyderabad, rather than adhering to the conventional practice of calculating GSDP for the entire state. The chief secretary also emphasised the need to focus on providing skills to the youth across the state to enhance their employability. A zoning system is being followed to promote industries and business activities within the Outer Ring Road (ORR) and the area between ORR and Regional Ring Road, which is seen as a significant economic booster. "Business activities are being planned in such a way that all services sector activities will be within ORR, while manufacturing will primarily be around RRR. The CM believes that manufacturing will drive the necessary growth in the economy by creating many blue collar jobs and generating revenue for the state. This zoning system is designed accordingly, and progress is being made in this direction. Hyderabad will be a major source of growth," a source said. The slow population growth rate is also seen as an advantage for achieving the target. Telangana's population is expected to remain around 4.2 crore, from the current approximately 3.8 crore. Additionally, the state has great potential as the participation of women in the labour force is quite high in the county. They will be more involved in economic activities by giving them ownership of green energy plants, sources said. However, there are clear challenges ahead in light of a significant debt burden. "It's not a problem that can be solved overnight, but the govt is aware that it needs to be addressed," a source said. Another concern is regarding environmental issues arising due to rapid development. "Hyderabad faces flooding during heavy rains, and we have implemented the Musi development plan," a source added. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Time of India
2 hours ago
- Time of India
Mkt eyes turnround in affordable home sales after repo rate cut
Kolkata: Property developers in Kolkata anticipate increased sales of affordable housing units, priced around Rs 50 lakh, following the cumulative 1% reduction in repo rate since Feb. Kolkata's affordable housing sector, traditionally robust in this cost-conscious market, experienced notable variations in recent years due to increasing interest rates and economic constraints. "We expect the affordable home market to revive following the RBI's rate cut, which should lead to a 1% reduction in home loan rates since Feb," said NK Realtors president (brand, consulting & sales) Biplab Kumar. Between 2021 and 2023, RBI's policy changes elevated home loan rates from 6.5% to 9%, resulting in 25%-30% higher EMIs and 15%-20% price increases by developers. Consequently, properties under Rs 50 lakh declined from 63% market share in 2019 to 47% in 2023. The sector showed recovery signs in early 2024, with Q1 registering 12% year-on-year growth in sub-Rs 50 lakh sales. The recent repo rate cut is anticipated to enhance affordability and stimulate demand, with developers suggesting possible price dip. "Home buyers will also witness a steady improvement in affordability. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Keep Your Home Efficient with This Plug-In elecTrick - Save upto 80% on Power Bill Learn More Undo While each cut, including the recent 50 bps, may seem small individually, together they significantly lower borrowing costs and lighten EMI burdens. A Rs 45-lakh home loan at 9% for 20 years sees major benefits from a 100 bps rate cut so far, with total interest reducing by Rs 6.84 lakh (from Rs 52.17 lakh to Rs 45.33 lakh). In a 20-year tenure, the EMI will be down by Rs 2,848 a month," Kumar said. Knight Frank India's national director (research) Vivek Rathi believes these changes will strengthen buyers' purchasing capacity in Kolkata's price-sensitive market, particularly benefiting first-time homeowners, seeking properties below Rs 50 lakh, which represented 41% of Q1 2025 residential sales. CREDAI leadership, including Kolkata president Siddharth Pansari and Bengal president Sushil Mohta, noted the rate reduction's positive impact on developer borrowing costs. Mohta highlighted that CRR reduction would assist in expediting delayed affordable housing projects. He also felt the rate cut would enable developers to pass on the benefits to homebuyers, supporting demand across all segments, not just affordable housing, but also mid and premium categories, as well as commercial real estate. Anarock Group's chairman Anuj Puri suggested that improved bank liquidity and reduced developer credit costs would expedite project completion and inventory absorption in Kolkata. Developers Sanjay Jain of Siddha Group, Rishi Jain of Jain Group and Sahil Saharia of Shristi Infrastructure welcomed the RBI's decision as beneficial for affordable housing buyers. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
