“The Memorandum of Understanding (MoU) establishes a framework for the Bank of England to place reliance on the Reserve Bank of India's (RBI) regulatory and supervisory activities while safeguarding UK's financial stability," the RBI said in a statement.
As the New Year 2020 ushers in it also bring along with it an entirely new set of holidays.
Here we are sharing with you the Bank Holidays so that you can plan your bank-related work accordingly. So, to facilitate your bank-related activities, we share with you the dates when the banks would be closed during the month of January 2020 so that you can carry out your undertakings by planning well in advance.
Bank Holidays in India in January 2020:
As per the guidelines laid down by the Reserve Bank of India (RBI), all the banks will remain closed on January 1 on account of New Year’s Day, Sundays and second and fourth Saturdays of the month.
Therefore, across India, all the banks will not be functioning on the following dates:
January 1, Wednesday
January 5, Sunday
January 11, Second Saturday
January 12, Sunday
January 19, Sunday
January 25, Fourth Saturday
January 26, Sunday
Besides, several banks will remain shut state-wise as per their local-festivals holidays.
Customers are advised to visit their respective bank branches to know about the working days of the banks in their regions.
PS: In the case of a month with five Saturdays, the fifth Saturday will be a working day.
Disclaimer: All precautions have been taken to gather the most accurate information about the Bank Holiday dates for the month of January 2020. However, readers are advised to verify with their local branches to corroborate the same.