Today, 27th December is Guru Gobind Singh Jayanti. On this occasion, schools, colleges and offices are closed in many states as it is a public holiday. Since it is also the fourth Saturday of the month, will banks remain closed today? The purpose of this news report is to remove this confusion. According to the RBI holiday list, all banks are closed on Saturday in cities like Kohima due to Christmas festival celebrations. However, since December 27 is also the fourth Saturday of the month, all banks across the country will remain closed.
Since September 2015, RBI has made a rule that banks will remain closed on the second and fourth Saturdays of the month. This means that bank employees work two Saturdays in a month and two Saturdays are holidays. As per the guidelines, all scheduled and non-scheduled banks – government, private, foreign, co-operative, regional rural and local area banks – observe the second and fourth Saturdays of the month as public holidays, and work all day on other Saturdays.
Payment system will not work
It has also been said in this RBI guideline that payment systems will not work on the second and fourth Saturdays. Payment systems typically include Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), check clearing operated by individual bankers clearing houses across the country, including the grid-based Check Truncation System (CTS) and ECS suite (Electronic Clearing Service), Regional Electronic Clearing Service (RECS), and National Electronic Clearing Service (NECS).
Guru Gobind Singh Jayanti
Today, the birth anniversary of the tenth and last Guru of the Sikhs, Guru Gobind Singh, is being celebrated across the country. He founded the Khalsa Panth and raised his voice against injustice. On this day, the Sikh community remembers his fearlessness, his teachings of equality and his emphasis on walking on the path of truth. As a result, today is a public holiday in states like Uttar Pradesh, Punjab, Haryana, Chandigarh, Uttarakhand and Bihar. During this period all schools, colleges and government offices will remain closed.