New Delhi: All banks across India will operate on July 6, 2024 (Saturday), as it marks the first Saturday of the month when bank branches are open for business. Customers will be able to conduct all banking transactions at their nearest branch. However, in Mizoram, banks will remain closed due to MHIP Day. Despite this closure, services such as ATM withdrawals, net banking, and UPI transactions will continue uninterrupted in the northeastern state. Bank customers in Mizoram are advised to check the operational status of their local bank branches before visiting this Saturday to ensure smooth transactions.
Why is July 6 not a bank holiday?
On July 6th (Satutrday), it is a regular working day as it coincides with the first Saturday of the month. The Reserve Bank of India (RBI) determines holidays in adherence to the Negotiable Instruments Act, encompassing occasions such as Real-Time Gross Settlement (RTGS) holidays and Banks’ Closing of Accounts. As per the RBI’s holiday calendar, both public and private sector banks observe closures on national holidays, state-specific regional holidays, and on the second and fourth Saturdays, in addition to Sundays. Conversely, the first, third, and fifth Saturdays are designated as operational days for banks. It’s important for bank customers to be aware that regional holidays can differ depending on their respective states of residence.
Bank holiday in Mizoram on July 6
On July 6th, 2024, Mizoram will observe a bank holiday on the occasion of MHIP Day (‘Mizo Hmeichhe Insuihkhawm Pawl’), which is celebrated annually on this date. MHIP Day commemorates the founding of Mizoram’s largest women’s organization, the Mizo Hmeichhe Insuihkhawm Pawl, which aims to unite women in the state. This day is dedicated to honoring their establishment and the theme of “binding women together”. MHIP Day is unique to Mizoram and is not recognized as a bank holiday elsewhere in India.
Saturday Bank Holiday: Banks will operate as usual on July 6, 2024 as it is the first Saturday of the month. In Mizoram, banks will remain closed on Saturday on the occasion of MHIP Day. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
