Bank Holidays 2020: Holidays and Observances in India

Holidays means vacations, get together and spending some “me” time with your family and friends. Bank Holidays 2020 contains the list of public holidays and bank holidays varies from country to country according to their culture and tradition. Defining a bank holiday in broader terms includes a holiday that is designated and established under the law and order of every country and is the non-working day for every government and private banking sector employee during the year. For India, such holidays are decided before the start of the year and are followed by every government, non-government or any other working banking body of the country. Such holidays in India might also differ depending on the state where you live and are subjected to change any second. It is a generalized calendar of holidays that is to be followed and excludes any kind of emergency holiday declared by the Government of India.

Also Read: Public Holidays 2020

Calendar 2020 January

Calendar 2020 February

Calendar 2020 March

Calendar 2020 April

Calendar 2020 May

Calendar 2020 July

Calendar 2020 August

Calendar 2020 October

Calendar 2020 November

Calendar 2020 December

Indian Holidays in 2020

In India, a number of endless festivals are enjoyed and countless holidays marked. Some national holidays are fixed every year, like Republic Day, Independence Day and Gandhi Jayanti and are not subjected to change any time of the year. Some of the holidays are dependent on the prevalent religions and linguistic demographics though.

India, being a multicultural country, celebrates a number of festivals depending on the culture. For example, Jains celebrate Mahavir Jayanti, Paryushan and Diwali; while Sikhs observe Guru Nanak Jayanti and Vaishakhi. Hindus commemorate Makar Sankranti, Maha Shivaratri, Janmashtami, Diwali, Ganesh Chaturthi, Raksha Bandhan, Durga Puja, Dussehra and many more; while the Muslims celebrate Eid-ul-fitr, Eid-ul-Adha, Mawlid and Muharram. The Buddhists observe the festival of Ambedkar Jayanti, Buddha Jayanti, Dharmachakra Pravartana Day and Losar and Christians make merry on Christmas and Good Friday.

Also Read: Horoscope 2020

Significance Of Bank Holidays 2020 In India

The importance of banks cannot be ignored since they play a major role in a country’s economy. We cannot imagine our life without banks. And therefore people have always been curious to know everything related to banks such as bank holidays, timing etc. Bank Holidays are generally public holidays in which all the proceedings of the bank are halted. Every bank remains closed whether it is a national, international, government, private or any local bank. There are no financial work carried out during these days and no net recorded amount entered. We understand how much hard work is put by the bank employees to maintain a constant flow of money. And these bank holidays make it possible for them to take a break from their routine. The bank employees can go on short trips with their families on these holidays.

Like the national and public holidays, bank holidays are decided by the government of the country and widely differ from the public holidays. To put in simple words, these holidays as decided with the help of bank officials.

Benefits Of Bank Holidays

• Bank holidays enable the employees to take time off their busy schedule and enjoy the day with their families.
• With the introduction of netbanking, it becomes easy for the consumer to operate his/her bank accounts or monetary transactions. Hene, this takes off the load from the employees.
• As several initiatives for the rural sector are taken, such as MUDRA Yojana, Pradhan Mantri Jan Dhan Yojana etc. by the government, it majorly focuses on reaching out to the root. This makes the tasks of banking employees more hectic. These holidays help to break the monotony and allows them to take a quick refreshing break.

Transaction Options During Bank Holidays 2020

Since the banks are not operating during these days, all the transactions can either be carried out through ATMs or through online payment mode. Online banking has made everything quite easier. It means you can do transaction of money in case of emergency without waiting anymore. Not much of a difference arises here and majorly with the advent of digitalization; you can now easily manage transactions. You also need to make sure that you have gathered enough information regarding bank holidays so that you would not get stuck in any sort of unpleasant situation. Do your bank-related works prior to bank holidays so that you do not have to take extra stress.

Above is the followed calendar of 2020 highlighting the bank holidays for the year 2020. The dates can be modified depending on any official national charges. In order to know the exact dates, it is recommended to keep checking these dates.

Conclusion

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