Banks will remain closed tomorrow, on March 22, 2023 on account of Gudi Padwa, Ugadi, First Day of Navratri, Bihar Divas, Sajibu Nongmapanba (Cheiraoba) and Telugu New Year. Since these holidays are region specific, customers are advised to plan their activities in advance.
Will Stock Markets Get Affected?
National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will remain open for equity, equity derivative segment and securities lending and borrowings (SLB) segment but currency derivatives segments will remain closed on account for Gudi Padwa.
Locations Where Banks Will Remain Closed
Apart from this, the banks including both private and public sector will remain closed in some selected cities due to the festivities. These include Belapur, Bengaluru, Chennai, Hyderabad, Imphal, Jammu, Mumbai, Nagpur, Panaji, Patna, and Srinagar. However, online banking activities will remain unaffected. So, customers can easily access the banking services through their banks' respective online platforms.
Additionally, banking activities in Agartala, Ahmedabad, Aizawl, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Gangtok, Guwahati, Andhra Pradesh, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, New Delhi, Raipur, Ranchi, Shillong, Shimla, and Thiruvananthapuram will remain unaffected.
The holiday on March 22, 2023 falls under Negotiable Instruments Act. As per Reserve Bank of India (RBI), there are three different categories of holidays - Holiday under Negotiable Instruments Act, Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts.
