
Bank holidays next week: From Raksha Bandhan, to Jhulana Purnima, Tendong Lho Rum Faat and weekends. Check full schedule
Overall, the month has a total of 15 listed holidays, including Independence Day, Ganesh Chaturthi and Janmashtami, besides other regional celebrations, and the Saturday and Sunday weekly offs.
All banks in India, public and private, have the second and fourth Saturdays as a holiday and all Sundays in the month are weekly offs.
You should note that holidays may differ across states in India due to regional and local requirments. It is thus best to check with your local bank branch for their holiday schedule or list ahead of time to be properly informed and make preparations in case of emergencies or long weekends. August 3 — (Sunday) — Banks across India closed for Sunday weekend holiday.
August 8 — (Friday) — Banks in Gangtok (Sikkim) to be closed for Tendong Lho Rum Faat.
August 9 — (Saturday) — Banks in Ahmedabad (Gujatrat), Bhopal (Madhya Pradesh), Bhubaneshwar (Odisha), Dehradun (Uttarakhand), Jaipur (Rajasthan), Kanpur and Lucknow (Uttar Pradesh), and Shimla (Himachal Pradesh) to be closed on account of Raksha Bandhan and Jhulana Purnima; and across India for second Saturday holiday.
August 10 — (Sunday) — Banks across India closed for Sunday weekend holiday.
You can continue to use online or mobile banking services even on national holidays — unless notified to users for technical or other reasons. For cash emergencies, ATMs are open for withdrawals, app and UPI function as usual.
All of the bank's annual holiday calendar is declared by the RBI under provisions of the Negotiable Instruments Act, which deals with the issuance of cheques and promissory notes. Transactions involving these instruments are thus not available during these listed holidays.
The RBI and state governments create a list of holidays for banks, taking into account national and local occasions, operational requirements, religious celebrations and other cultural observances. The central bank makes the announcement through its official website and notifications to banks and other financial institutions. August 3 — (Sunday) — Banks across India closed for Sunday weekend holiday.
August 8 — (Friday) — Banks in Gangtok (Sikkim) to be closed for Tendong Lho Rum Faat.
August 9 — (Saturday) — Banks in Ahmedabad (Gujatrat), Bhopal (Madhya Pradesh), Bhubaneshwar (Odisha), Dehradun (Uttarakhand), Jaipur (Rajasthan), Kanpur and Lucknow (Uttar Pradesh), and Shimla (Himachal Pradesh) to be closed on account of Raksha Bandhan and Jhulana Purnima; and across India for second Saturday holiday.
August 10 — (Sunday) — Banks across India closed for Sunday weekend holiday.
August 13 — (Wednesday) — Banks in Imphal (Manipur) closed for Patriot's Day.
August 15 — (Friday) — Banks across India closed for Independence Day and Parsi New Year (Shahenshahi) and Janmashtami celebrations.
August 16 — (Saturday) — Banks in Ahmedabad (Gujarat), Aizawl (Mizoram), Bhopal and Ranchi (Madhya Pradesh), Chandigarh (UT), Chennai (Tamil Nadu), Dehradun (Uttarakhand), Gangtok (Sikkim), Hyderabad (Telangana), Jaipur (Rajasthan), Kanpur and Lucknow (Uttar Pradesh), Patna (Bihar), Raipur (Chhattisgarh), Shillong (Meghalaya), Jammu and Srinagar (Jammu and Kashmir), and Vijayawada (Andhra Pradesh) will be shut on account of Janmashtami (Shravan Vad-8) and Krishna Jayanthi.
August 17 — (Sunday) — Banks across India closed for Sunday weekend holiday.
August 19 — (Tuesday) — Banks in Agartala (Tripura) to be closed for Birthday of Maharaja Bir Bikram Kishore Manikya Bahadur.
August 23 — (Saturday) — Banks across India closed for fourth Saturday weekend off.
August 24 — (Sunday) — Banks across India closed for Sunday weekend holiday.
August 25 — (Monday) — Banks in Guwahati (Assam) will be closed on account of Tirubhav Tithi of Srimanta Sankardeva.
August 27 — (Wednesday) — Banks in Ahmedabad (Gujarat), Belapur, Mumbai and Nagpur (Maharashtra), Bengaluru (Karnataka), Bhubaneshwar (Odisha), Chennai (Tamil Nadu), Hyderabad (Telangana), Panaji (Goa), and Vijayawada (Andhra Pradesh) will be closed for Ganesh Chaturthi and Samvatsari (Chaturthi Paksha) and Varasiddhi Vinayaka Vrata and Ganesh Puja and Vinayakar Chathurthi.
August 28 — (Thursday) — Banks in Bhubaneshwar (Odisha) and Panaji (Goa) to be closed for second day of Ganesh Chaturthi and Nuakhai.
August 31 — (Sunday) — Banks across India closed for Sunday weekend holiday.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
an hour ago
- Time of India
CM virtually flags off 3 new express trains
Indore: Chief minister Mohan Yadav virtually flagged off three new express trains on Sunday, that will enhance connectivity between Madhya Pradesh, Maharashtra, and Chhattisgarh. Tired of too many ads? go ad free now The Jabalpur-Raipur, Rewa-Pune (Hadapsar), and Bhavnagar Terminus-Ayodhya Express were launched via video conferencing during an event held in Bhavnagar, Gujarat. Union railway minister Ashwini Vaishnaw, Union labour minister Mansukh Mandaviya, and Chhattisgarh chief minister Vishnu Deo Sai were present on the occasion. "Today marks the inauguration of Ayodhya Express train from Bhavnagar. This express train will connect the legacy of Lord Krishna and Lord Ram in modern times. Under the leadership of Prime Minister Modi, is experiencing a golden era. Efforts are being made to modernise the railways, with special attention given to enhancing railway safety, cleanliness, and speed," Yadav said while virtually attending the event. "The launch of these two new trains, from Rewa to Pune and Jabalpur to Raipur, is not just about travel convenience but is an initiative that gives new direction to the lives, livelihoods, and future of the people of Madhya Pradesh," Yadav added. Speaking on the occasion, Vaishnaw said, "Railways are the most convenient mode of transportation for middle-class India, which is why Prime Minister Modi is paying special attention to it. Over the past 11 years, 3,400 kilometres of new tracks have been laid. The construction of 1,300 new stations is underway, making it the largest railway project in the world." Additional 250 to be credited to Ladli Behanas' accounts this month CM Mohan Yadav on Sunday said that an additional Rs 250 would be credited to the accounts of Ladli Behanas on the next credit scheduled on Aug 7 as Raksha Bandhan gift. Tired of too many ads? go ad free now Ladli Behanas currently receive Rs 1,250 per month, which is slated to rise to Rs 3,000 by 2028. Speaking at a Raksha Bandhan event held at Raghunandan Garden in Ujjain, Yadav said, "From Bhai Dooj, Rs 1,500 per month will be deposited into the sisters' accounts. This is still 2025. By the year 2028, Rs 3,000 per month will be deposited into your account. This is a promise from this brother to the sisters." Development projects worth 155 crore inaugurated in Ujjain Chief minister Mohan Yadav inaugurated and laid foundation stone for development projects including construction of eight new bridges and two new roads costing Rs 155 crore on Sunday. Speaking on the occasion at Kalidas Academy, Yadav said, "These development projects costing Rs 155 crore will transform the city's landscape. These projects will also facilitate the movement of millions of devotees during the Simhastha Mahakumbh in 2028." He said that a campaign 'Har Ghar Tiranga, Har Ghar Swachhta: Swatantrata ka Utsav, Swachhata ke Sang' has been launched in Madhya Pradesh.


Economic Times
2 hours ago
- Economic Times
MPC must ignore Trump's latest jibe, and stay focused on inflation risks and price stability goals
Oh, it's very much undead Nothing is certain except death and taxes,' said Benjamin Franklin. In the post-Trump world, one can add a third: slower growth and higher inflation or stagflation, in economists' lexicon. And possibly a fourth: Trump-induced turbulence, as evidenced by the latest round of tariff hikes announced last week. In a profession noted for its discontents-'If all the economists were laid end to end, they'd never reach a conclusion,' said George Bernard Shaw-Trump has achieved the near impossible. He's ensured almost complete unanimity among economists on the likely outcome of his chop-and-change policy on tariffs: lower growth, higher inflation. What explains economist-dominated MPC's decision to tread a different path and take a decidedly one-sided view of how Trump's tariffs will impact India's macro economy? Indian exceptionalism? Market capture? The desire of a relatively newly minted MPC (it has yet to complete a year in office in its present avatar) to respond to a nod-and-a-wink from North Block? 'Core inflation remains subdued, and overall inflation is comfortably below the RBI's 4% target, affording room for the easing cycle to be sustained,' says the finance ministry, crossing the unstated Lakshman rekha between the executive and RBI on interest rate policy in its latest monthly report. More importantly, will it continue down that path at its three-day meet, starting tomorrow? Unlike its peers worldwide, MPC seems to believe that growth will be adversely impacted, but not inflation. So, it has cut the policy repo rate by 100 bps since February 2025, reduced CRR by 100 bps and flooded the system with liquidity. All this, even as central banks in the US, China, the EU and Britain have opted to hold rates constant till there is greater fall in inflation to a more than six-year low in June was driven primarily by F&B group, which accounts for close to 46% of the consumption basket/index and can quickly reverse (one extreme weather event is all it takes). The US and Britain have seen an uptick in inflation. Oil prices are likely to move up post-Trump's threat to impose a penalty (100% tariff?) on countries that buy oil from Russia (India is a big buyer). Hardeep Puri has warned that removing Russian supplies from the market could push oil prices to $130-140 a the market has been signalling higher rates for some time now, with savers deserting bank deposits for riskier forms of investment, including, yes, cryptos. In its third buyback of this fiscal year, on July 17, RBI accepted only 79% of the notified amount, suggesting market participants wanted higher yields than its comfort level. Experience has shown that more liquidity may or may not spur credit growth, and hence economic growth. But it will almost definitely spur inflation in a scenario where supply-side factors (disruption of supply chains and higher tariffs worldwide) are likely to shift the balance of risks towards higher inflation, even as our domestic-focused economy navigates these shocks better. No wonder IMF has just hiked its growth projections for India. There is also the attendant risk of banks and NFBCs lending to less creditworthy borrowers. In a conversation with Raghuram Rajan, Jerome Powell, put it well: 'Tariffs are highly likely to generate at least a temporary rise in inflation. The inflationary effects could also be more persistent.'In a speech on economic outlook in April, Powell said: 'Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem. We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension. If that were to occur, we would consider how far the economy is from each goal, and the potentially different time horizons over which those respective gaps would be anticipated to close.'To assume, as Sanjay Malhotra seems to have done, 'Inflation is under control, and we can assume that we have won the is good, but there is still room for improvement,' is unwise. RBI's mandate under the inflation targeting regime is clear. It is 'price stability, keeping in mind the objective of growth'. It is not a dual objective, as in the case of the US Fed. In terms of priorities, inflation ranks first. It is most certainly not 'aspirational' growth, a term that has newly entered MPC's might have won the battle against inflation, thanks in part to statistical sleight of hand (base effects) but not the war. Fortunately, RBI governor seems to have realised he might have erred. Last month, Malhotra's statement that 'though the RBI has won the battle against inflation, it continues its war against price rise, keeping in mind its objective of price stability', is a notable shift. One that suggests he, and MPC, will not rush in with another hasty rate cut. Never mind what Trump says, or the market wants. (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Zomato delivered, but did the other listed unicorns? US tariff hike to hit Indian exports, may push RBI towards rate cuts Will TCS layoffs open the floodgates of mass firing at Indian IT firms? Indian IT firms never reveal the truth hiding behind 'strong' deal wins Is Bajaj Finance facing its HDFC Bank moment? Tata Motors' INR38k crore Iveco buy: Factors that can make investors nervous Stock Radar: Strides Pharma stock hits fresh 52-week high in July; will the rally continue in August? F&O Radar| Deploy Short Strangle in Nifty to gain from Theta decay For investors who can think beyond Trump: 5 large-cap stocks with an upside potential of up to 36%


Time of India
3 hours ago
- Time of India
Buying property abroad with international credit cards may put you in regulatory crosshairs
Mumbai: Many Indians are trying to get out of a pickle after buying homes in Dubai with their international credit cards (ICCs). They clicked on payment links shared by overseas builders, and sometimes swiped the cards on visits to the UAE to make down payments and later pay off the balance in tranches. It was quick and convenient-no dealing with the bank branch or filling up forms. Besides, they thought they would escape the high 20% tax-collected-at-source (TCS) in case banks manage to put in place a system to collect it. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Data Science Product Management Degree healthcare Operations Management Technology Healthcare MCA Artificial Intelligence PGDM Management Design Thinking Project Management Cybersecurity others Leadership Data Analytics Data Science CXO Digital Marketing Others MBA Finance Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Ill-advised and unwittingly, they used the ICC for which it is not meant to be: capital account transactions like purchase of immovable property and stocks. ICCs, like local cards, are intended to only facilitate current account transactions like buying books, downloading movies, booking hotels while at home or on a foreign tour. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo There is no regulation that in as many words bans the use of ICC to buy properties abroad. But bankers and practitioners consider this a violation based on Reserve Bank of India ( RBI ) notifications. Now, to get the income tax (I-T) office and the enforcement off their back, the property buyers are trying to fix the error. How? By entering into another arrangement with the builders: these investors are preparing to remit fresh funds to builders under the RBI's Liberalised Remittance Scheme (LRS) while cancelling the earlier credit card transaction on the grounds that it was a mistake. Once done, they would receive a refund from the builder. Otherwise, they would have to sell the property and bring back the money. Live Events "Indian residents who have unintentionally paid money through credit card for purchase of property outside India need to approach RBI to regularise their mode of payment. RBI should take a lenient view as the money paid through credit card is a legitimate payment and only the mode of payment was wrong. The regulator should compound the contravention if applied for and need not ask to unwind the transaction or sell the property," said Rajesh Shah, partner at the CA firm Jayantilal Thakkar & Co. Compounding involves a person paying a fine after accepting the violation. Some of the buyers are reluctant to approach the regulator, preferring to lie low after cancelling the earlier credit card transaction. CARD USE-WHERE & WHAT The LRS allows a resident individual to transfer $250,000 a year to buy assets abroad as well as shop online from India. Under the rules, when a person uses ICC from India to buy stuff online from foreign sellers, the spend is part of the LRS limit. Such current account expenses while travelling abroad are excluded from LRS. (Perhaps, those who wiped their cards for an apartment during a trip to the Emirates mistakenly believed the expense would not consume their LRS limit). However, paying with the ICC for overseas property purchase is not considered within the regulations, irrespective of whether the card is used in India or abroad. It is understood that payments for such acquisitions must be through banking channels.