Onam bank holiday: When are banks closed for Onam in August 2023?

Due to the different festivals celebrated in each state, banks holidays vary in India, i.e., there are many state-specific holidays. The RBI prepares a list of bank holidays every year for each state. Depending on the state, all banks nationwide, including those in the public and private sectors, cooperative banks, and regional banks, will be closed on the days designated as holidays.

Onam is a harvest festival celebrated in Kerala, India. Onam honours the wonderful administration that occurred under Mahabali’s tenure, a mythical king who ruled Kerala. Kerala will observe a bank holiday on August 28, 29 to commemorate the occasion.

August 28 (Monday)- First Onam- Banks are closed in Kerala
August 29 (Tuesday)- Thiruvonam- Banks are closed in Kerala.
August 30- (Wednesday)- Raksha Bandhan- Banks are closed in Rajasthan, Himachal Pradesh.
August 31- (Thursday)- Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol- Banks are closed in Uttarakhand, Assam, Kerala, Uttar Pradesh.

The Bank holidays have been designated by the RBI as follows: Holiday under the Negotiable Instruments Act; Holiday under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts.Most financial and non-financial banking transactions can be conducted via net banking, mobile banking, or Whatsapp banking. In order to use banking services while on the go, you must first enlist register for services.