Home Banking How many Banking business days are there ?

How many Banking business days are there ?

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banking business days

Getting work done at the bank is just as easy as understanding a language you know nothing about! This means that getting work done at the bank is not at all an easy job. Sometimes we take a day off just to get work done but it gets wasted due to some reason. Well, here we are going to talk about What is the best way to get work done at the banks!

Reference Country Here would be our motherland India

First we will tell you the essential yearly offs for banks:

Data Source : https://rbi.org.in/scripts/HolidayMatrixDisplay.aspx?regoff=Mumbai

  1. Every Weekend : Sunday : 54
  2. 2nd and 4th Saturday of Month : 24
  3. Republic Day : 26th Feb
  4. Holi
  5. Mahavir Jayanti
  6. Good Friday
  7. Buddha Poornima
  8. Eid-Ul-Fitr
  9. Independence Day : 15th Aug
  10. Id-Ul-Zuha
  11. Muharram
  12. Mahatma Gandhi Jayanti : 2nd Oct
  13. Vijayadashami
  14. Deepawali
  15. Eid-e- Milad
  16. Guru Nanak Jayanti
  17. Christmas : 25th Dec

Note : Depending on Solar and Lunar Calendar, absent dates for some mentioned yearly offs are released by RBI, in separate each year.

Banking Business Days = Total number of days in a year – Total number of Yearly Offs

= 365 – (54+15+24)

= 272 (74.5% approx.)

Official Banking Business Days are 272 in number out of 365 in the entire year.

These are the official holidays for both Indian Public and Private Sector banks and there is an increase on the same depending on the branch location, or any untoward incident happening all of a sudden.

To conclude, one could easily say that the above data gives an easy interpretation that banking system/sector/infrastructure of India which has 7th largest landmass in the world and with a place in top 10 economies globally for quite a while, is wasting at least a quarter of its year doing nothing but shutting its doors to business. RBI, Businesses, Union & State Governments & common public combined shall do something about it. If they want to stand in line with developed world economies in the coming decade.