Muharram bank holiday July 2024: Are banks closed on Wednesday? Check state-wise list

Are banks closed on July 17, 2024, for Muharram? The day marks the beginning of the Islamic New Year and is a time for mourning and reflection. The 10th day of Muharram, known as Ashura, commemorates the martyrdom of Imam Hussain, the grandson of Prophet Muhammad, at the Battle of Karbala. This day is observed with various religious activities, including fasting, prayer, and public processions. 

On Wednesday, July 17, 2024, banks will be closed in the following states due to Muharram: Andhra Pradesh, Mizoram, Rajasthan, Tamil Nadu, Gujarat, Karnataka, Telangana, Andaman & Nicobar, Bihar, Chhattisgarh, Delhi, Tripura, Uttar Pradesh, Jammu and Kashmir, Jharkhand, Lakshadweep, Madhya Pradesh, Maharashtra and Odisha. Meghalaya will also observe a holiday for U Tirot Sing Day, commemorating the legacy of the prominent freedom fighter U Tirot Sing.

Those who have bank dealings, please note: With the bank closures, individuals and businesses should plan their financial activities accordingly. It is advisable to complete any urgent banking transactions before the holiday to avoid inconvenience. While online banking services and ATMs will remain operational, branch-related services will be unavailable.

Are stock markets closed on Wednesday?
Alongside the bank holiday, leading stock exchanges such as NSE and BSE will also be closed on July 17, 2024, for Muharram. This closure will affect the equities, equity derivative, and SLB segments. It is essential to plan and manage your financial transactions ahead of time to ensure smooth operations.

Banks across India will remain closed for 12 days in July 2024, according to the Reserve Bank of India's (RBI) holiday calendar. These holidays include regional and state-specific holidays, as well as the usual second and fourth Saturdays and Sundays. To avoid unnecessary trips to the bank, customers are advised to check the holiday list released by the RBI.

From July 17 onwards, banks will observe several holidays:

July 17: Muharram/Ashoora/U Tirot Sing Day (observed in West Bengal, Uttar Pradesh, Maharashtra, New Delhi, Bihar, Jharkhand, Chhattisgarh, Himachal Pradesh, Jammu and Kashmir, Meghalaya, Rajasthan, Andhra Pradesh, Telangana, Tamil Nadu, Mizoram, Karnataka, Madhya Pradesh, Tripura)
Leading up to July 17, there were already several holidays throughout the month:

July 3: Beh Dienkhlam (Meghalaya)
July 6: MHIP Day (Mizoram)
July 7: Weekend (All states)
July 8: Kang (Rathajatra) (Manipur)
July 9: Drukpa Tshe-zi (Sikkim)
July 13: Second Saturday (All states)
July 14: Weekend (All states)
July 16: Harela (Uttarakhand)

In total, including weekends and regional holidays, banks across India saw 12 days of closures in July 2024. The RBI classifies holidays into three categories: Real-Time Gross Settlement Holiday, Banks' Closing of Accounts Holiday, and Holidays Under the Negotiable Instruments Act.

Despite these closures, customers can still access banking services via net banking, ATMs, mobile applications, and bank websites. This ensures continuous access to banking facilities even on holidays.

To stay updated and avoid any inconvenience, it's essential to keep track of the bank holiday schedule for your region.