logo
Banks To Be Closed For 4 Days In THESE Cities From Tomorrow 13 August 2025 --Check List

Banks To Be Closed For 4 Days In THESE Cities From Tomorrow 13 August 2025 --Check List

India.com9 hours ago
New Delhi: Banks will have extended holidays this week between August 13 and August 17, as per the RBI bank holiday list. However, it must be noted that these holidays will not be straight holidays for all branches across the country. Banks will be closed in various states for different festivals and regional celebrations being observed this week.
Banks will remain closed for upto 4 days (each day differently in various cities) from tomorrow on account of several regional festivities, gazetted holidays and those of weekends.
Bank Close 4 Days From Tomorrow, 13 August 2025
August 13, Wednesday -- Banks in Imphal to be closed on account of Patriot's Day.
August 15, Friday -- Banks across India closed on account of Independence Day, Parsi New Year, and Janmashtami
August 16, Saturday -- Banks in Ahmedabad, Aizawl, Bhopal, Ranchi, Chandigarh, Chennai, Dehradun, Gangtok, Hyderabad , Jaipur, Kanpur, Lucknow, Patna, Raipur, Shillong, Jammu, Srinagar, Vijayawada will be closed on account of Janmashtami and Krishna Jayanthi
August 17, Sunday --Banks across India will remain closed for Sunday weekend holiday
Furthermore, you must note that the banks will NOT be closed for all the days consecutively in all states or regions. This is the total number of days when banks in different parts of the country will remain closed for state-observed holidays. For instance banks will be closed for Birthday of Birthday of Maharaja Bir Bikram Kishore Manikya Bahadur in Agartala, but in other states it will NOT be closed for the same reason.
Reserve Bank of India places its Holidays under three brackets --Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks' Closing of Accounts. However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Record Surge! Mutual funds attract nearly  ₹50 lakh crore in 5 years
Record Surge! Mutual funds attract nearly  ₹50 lakh crore in 5 years

Mint

time23 minutes ago

  • Mint

Record Surge! Mutual funds attract nearly ₹50 lakh crore in 5 years

While Indian equities have been weighed down by substantial US tariffs, modest Q1 earnings, and sustained selling by overseas investors, domestic retail investors have maintained their confidence in the fundamentals of the economy, shrugging off these near-term headwinds as they pump record funds into mutual funds in July. As per the data released by AMFI (Association of Mutual Funds of India) on Monday, August 11, equity fund categories witnessed the highest-ever monthly net inflow of ₹ 42,702 crore, aided by renewed interest in thematic and sectoral schemes and continued inflow into small-cap, mid-cap, and flexi-cap schemes. Besides small- and mid-cap funds, large-cap funds saw net inflows of ₹ 2,125 crore, underscoring retail investors' interest in these schemes amid the sharp market correction in recent months. The monthly net inflow marked the 53rd consecutive month of gains, indicating that investors have been steadily pouring in money since February 2021. Additionally, healthy growth was witnessed in SIP (Systematic Investment Plan) inflow at ₹ 28,464 crore during the month, an increase from ₹ 27,269 crore in June. These record inflows have helped cushion the Indian stock market against the impact of sharp overseas investor outflows. Apart from equity funds, debt funds recorded a strong net inflow of ₹ 1.06 lakh crore in July, as investors diversified away from bank fixed deposits, which have turned less attractive following multiple RBI rate cuts. Amid strong inflows into both equity and debt, the total assets under management (AUM) of mutual fund industry crossed ₹ 75 lakh crore for the first time in July, reaching ₹ 75.35 lakh crore. Just half a decade ago, the mutual fund industry's AUM stood was at ₹ 27.11 lakh crore, indicating an addition of ₹ 48.24 lakh crore in only five years, AMFI data showed. Looking further back, the AUM of the Indian mutual fund industry has increased more than sixfold in the past 10 years. The industry first crossed the milestone of ₹ 10 lakh crore in May 2014, and in just about three years, the AUM more than doubled to ₹ 20 lakh crore by August 2017. The AUM crossed ₹ 30 lakh crore in November 2020 and has since tripled. Meanwhile, equity mutual fund AUM has surged from ₹ 7.37 lakh crore to ₹ 33.27 lakh crore in the last five years, a remarkable growth of 351% and it now accounts 46% of the overall mutual fund industry's AUM. Retail investors have been actively shifting their savings from traditional bank deposits to equities in recent years, aiming to participate in India's growth story, with the majority opting for the mutual fund route to gain ownership in listed companies. This participation has not only broadened the investor base but also provided a strong foundation for the market, encouraging many companies to raise funds through the stock market to capitalize on ongoing domestic demand. This process has expanded the overall size of the Indian stock market, with India becoming fourth largest stock market globally. According to market experts, institutional inflows into the Indian stock market are expected to remain strong through the rest of 2025, led by higher participation from the retail segment, higher understanding of market volatility, and rising investment discipline, along with incrementally higher inflow from B-30 cities, said domestic brokerage firm InCred Equities. "We remain optimistic over the mid- to long-term horizon amid improving geographic penetration as well as the rising popularity of mutual fund schemes, mainly among the young and mid-income investors," said InCred. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Raghuram Rajan flags a 'bigger issue' if India stops buying Russian oil
Raghuram Rajan flags a 'bigger issue' if India stops buying Russian oil

Time of India

time40 minutes ago

  • Time of India

Raghuram Rajan flags a 'bigger issue' if India stops buying Russian oil

President Donald Trump has been cranking up the pressure on India, a country the US has courted as a strategic counterweight against China. Trump has announced a 50 per cent tariff on the country, a higher rate than many other major economies in Asia. His message to India is clear: Stop buying Russian oil . This raises a crucial question: Can India afford to stop buying Russian oil? As per former Reserve Bank of India (RBI) Governor Raghuram Rajan , 'It wouldn't be a disaster for India', but he pointed to a 'bigger issue' that might be of concern. 'Stopping purchases of Russian oil wouldn't be a disaster for India, since current prices aren't much higher than for Russian crude.' If Russian oil were cut off entirely, prices would rise, but India could handle that, he stated in an interview with International Valor. The bigger issue is 'political: an overt public decision to stop buying from Russia would be seen domestically as bowing to U.S. pressure, which plays badly in any democracy.' If Washington had quietly asked India to phase out Russian oil, it might have been acceptable, the former RBI Governor said. 'Making it public, and tying it to a tariff threat makes it much harder politically.' On trade, there are many areas where liberalisation would be good for India, he stated adding that lowering tariffs can help our economy. 'But, it's hard to negotiate with a gun to your head. I hope that tempers cool and talks resume, because a 50 per cent tariff is unsustainable—not just for India, but also for the U.S., which risks alienating a country it hopes will be a strategic partner. People remember these things for a long time, and turning them away is rarely smart geopolitics.' Although a deal is still possible to avoid the higher rate, Trump's recent barrage against India has quickly damaged ties with a nation that successive administrations have sought to court as a counterweight to China. He's called India's economy 'dead,' its tariff barriers 'obnoxious' and its people indifferent to the plight of Ukrainians — adding to tensions after Trump angered India by claiming to have brokered peace with Pakistan earlier this year. The Indian government has fired back at Trump's tariff threats, saying the purchases are necessary for the nation's energy security and has blasted Trump for singling out India when other countries are also buying Russian oil. 'We reiterate that these actions are unfair, unjustified and unreasonable,' a spokesperson for the Ministry of External Affairs said in a statement. 'India will take all actions necessary to protect its national interests.' If implemented, the higher rates would be a further hit to India's economy. Bloomberg Economics estimated that a 50 per cent tariff may cut US-bound exports by 60%, putting 0.9 per cent of gross domestic product at risk. It would particularly hit labor-intensive industries such as gems and jewelry, textiles, footwear, carpets and agricultural goods. While India is still open to talks, Trump's tariff threats are eroding goodwill and risk prompting India to shift closer to Russia and China. Prime Minister Modi is planning to visit China later this month for the first time in more than seven years.

PSU banks write off loans over Rs 5.82 lakh cr in last 5 years: MoS Finance
PSU banks write off loans over Rs 5.82 lakh cr in last 5 years: MoS Finance

Economic Times

timean hour ago

  • Economic Times

PSU banks write off loans over Rs 5.82 lakh cr in last 5 years: MoS Finance

Agencies Representative image Public sector banks (PSBs) have written off bad loans of about Rs 5.82 lakh crore in the last five financial years, Parliament was informed on Tuesday. During 2024-25, the loan write-off of PSBs was at Rs 91,260 crore, compared to Rs 1.15 lakh crore in the previous fiscal, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha. The write-off was highest at Rs 1.33 lakh crore during 2020-21, declining to Rs 1.16 lakh crore in the following year and to Rs 1.27 lakh crore in 2022-23. In contrast to write-offs, PSBs have recovered around Rs 1.65 lakh crore over the last five years. Recovery is around 28 % of the total write-off in the previous five financial years. Banks write off NPAs, including those in respect of which full provisioning has been made on completion of four years, as per the Reserve Bank of India (RBI) guidelines and policy approved by banks' Boards, Chaudhary said. "Such write-off does not result in waiver of liabilities of borrowers and therefore, it does not benefit the borrower. The borrowers continue to be liable for repayment, and banks continue to pursue recovery actions initiated in these accounts," he said. Further, he said, recovery in written-off loans is an ongoing process and banks continue pursuing their recovery actions initiated against borrowers under the various recovery mechanism available to them, such as filing of a suit in Civil Courts or in Debts Recovery Tribunals, and filing of cases in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, etc. Replying to another question, Chaudhary said that more than Rs 21.68 lakh crore has been disbursed under Pradhan Mantri Mudra Yojana (PMMY) across the country over the last five years. In response to another question, Chaudhary said, according to provisional data provided by the RBI for the financial year 2024-25, Scheduled Commercial Banks have recovered a total of Rs 32,466 crore through actions initiated in 2,15,709 cases under the SARFAESI Act.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store