Sat Jan 18 08:20:00 UTC 2025: **Banks Open This Saturday Despite Negotiable Instruments Act Holiday**
**MUMBAI** – Despite January 18th being designated a holiday under the Negotiable Instruments Act, banks across India will remain open for business, the Reserve Bank of India (RBI) has confirmed. This is because January 18th falls on the third Saturday of the month, and banks typically operate on the first and third Saturdays.
While transactions involving negotiable instruments like cheques and promissory notes will be unavailable, online banking services will remain fully functional. Customers can conduct various transactions including fund transfers (NEFT/RTGS), apply for demand drafts and chequebooks, and access credit/debit card and ATM services.
The RBI classifies bank holidays into three categories under the Negotiable Instruments Act. Information regarding holidays is disseminated through the RBI’s website and official notifications.
The next bank holiday is scheduled for January 23rd, observing Netaji Subhas Chandra Bose’s birthday, Vir Surendrasai Jayanti, and municipal elections. Closures on this date will be regionally specific. A total of 13 bank holidays, including weekends, are planned for January. Further details on regional closures for other holidays throughout January, such as New Year’s Day and Makar Sankranti, are available on the RBI website.
First Piper 