After remaining closed for a two-day long weekend, banks in several parts of the country remained shut on Monday to mark the beginning of the Vikram Samvat New Year and other festivals.
Banks in major cities like Delhi, Kolkata, Chennai, Bengaluru and others were functioning. Whereas, banks remained closed in other cities like Mumbai, Nagpur, Ahmedabad, Lucknow, Kanpur and Jaipur under the Negotiable Instruments Act today.
In Mumbai, not only banks, but the share markets too are closed on Monday.
Today’s holiday has resulted in three-day-long closure for the banks in Mumbai. In the previous week, banks were not able to function properly due to the assembly elections and bankers strike.
Meanwhile, in southern Bengaluru city Banks that opened today will remain shut tomorrow (Tuesday) for Balipadyami festival. Similarly, to mark the festivities like Bhaidooj and Chitragupt Puja, banks in Kanpur and Lucknow banks will also be closed.
In Gujarat, a state-wide bank holiday will be observed to mark Sardar Vallabhbhai Patel’s birthday on October 31.
Festivities like Vikram Samvat New Year Day, Laxmi Puja, Govardhan Puja and others are mentioned in the Reserve Bank of India’s list of holidays that vary from region-to-region.
(With input from agencies)