List of Bank Holidays 2020

Bank holidays 2020 explains that bank holidays are those days on which banks are officially closed. While holidays bring joy, relaxation and a sense of freedom from the daily work routine , they may also cause trouble with our finances. Before having a look at the list of bank holidays in India in the year 2020, let us know about the pros and cons of bank holidays.

LIST OF BANK HOLIDAYS 2020

Now that we know the importance of knowing bank holidays and the pros and cons associated with them, let us know in advance on what dates the bank holidays will fall in the year 2020. Following is the comprehensive state-wise list of the bank holidays in 2020.

BANK HOLIDAYS 2020 in JANUARY

BANK HOLIDAYS 2020 in FEBRUARY

BANK HOLIDAYS 2020 in MARCH

BANK HOLIDAYS 2020 in APRIL

BANK HOLIDAYS 2020 in MAY

BANK HOLIDAYS 2020 in JUNE

BANK HOLIDAYS 2020 in JULY

BANK HOLIDAYS 2020 in AUGUST

BANK HOLIDAYS 2020 in SEPTEMBER

BANK HOLIDAYS 2020 in OCTOBER

BANK HOLIDAYS 2020 in NOVEMBER

BANK HOLIDAYS 2020 in DECEMBER

Know more about Indian Festivals & their Significance

BANK HOLIDAYS 2020: BENEFITS OF BANK HOLIDAYS

• Bank holidays 2020, like all other holidays, give their employees moments of leisure with their families.
• In a globalising world, banks and their employees play a very crucial role and work really hard to spread their business.
• In India, with multiple initiatives like the Pradhan Mantri Jan Dhan Yojana, MUDRA Yojana, Sukanya Samriddhi Yojana etc, being taken up by the government to expand the reach of banks and it’s services into every nook and corner of the country and bring more people into the network of the formal economy, the workload on the banking sector is more than ever. This makes these bank holidays even more important for the banking sector employees.

BANK HOLIDAYS 2020: LOSSES DUE TO BANK HOLIDAYS

• A globalising country like India cannot afford to have the financial intermediary institutions closing down for many days in a year.
• Multiple holidays create problems for pensioners.
• Trading in bonds, stocks and commodity as well as currency derivatives gets affected.
• If banks are closed for multiple days in a row, it affects the stocking of ATMs and eventual cash crunch in the economy.
• Commerce is secular, global, competitive and continuous and it cannot afford to be out of sync.

These were the losses due to bank holidays described in Bank Holidays 2020.

BANK HOLIDAYS 2020: ABOUT SOME IMPORTANT HOLIDAYS

PONGAL, UTTARAYAN, MAKAR SANKRANTI: As per the solar calendar, the Sun enters different zodiac signs on a fixed day. Makar sankranti, celebrated on 14th January every year, marks the rising of the sun in the zodiac Capricorn or Makar. It is also called Uttarayan, as the sun now begins its journey northwards ( the sun moves between the Tropic of Cancer and the Tropic of Capricorn). It is celebrated as Pongal in Kerala.

REPUBLIC DAY: One of our national festivals, this is the day when the Constitution of India came into force in the year 1950. The President of India unfurls the National Flag at Rajpath, New Delhi. A parade is held every year beginning from Rajpath and ending at the Red Fort in New Delhi.

BASANT PANCHMI : Basant Panchami marks the arrival of spring season. Hindus worship Goddess Saraswati on this day to receive traction for the new rise in their energies with the arrival of spring and end of the winters.

MAHASHIVRATRI: Dedicated to Lord Shiva and celebrated on the new moon night of the month of Maagha, Mahashivratri is a symbol of overcoming darkness and ignorance in life. Hindus observe fasting during the day and worship ( abhishek ) the Shivling with milk, flowers and fruits.

HOLI: Celebrated on the very next day of holika dahan with colours, water balloons and sprinklers. It is a symbol of fraternity and harmony.

RAM NAVAMI: Rama Navami is a Hindu festival celebrated in the spring season that marks the birth anniversary of Lord Rama, particularly important to the Vaishnavism tradition of Hinduism, as the seventh incarnation of Vishnu. The festival is a part of the nine day spring Navratri, and falls on the ninth day of the bright half in the Hindu traditional calendar month of Chaitra.

GUDI PADVA: Gudi Padva is a festival that marks the traditional new year for Marathi Hindus. It is celebrated in and near Maharashtra on the first day of the Chaitra month, during spring-time.

AMBEDKAR JAYANTI: Celebrated by paying tribute in the form of garlands to the statues of the framer of the Constitution of India, Babasaheb Bhimrao Ambedkar, on his birth anniversary.

GOOD FRIDAY: Christian holiday commemorating the ultimate sacrifice made by Lord Jesus to free his people from their sins, his crucifixion and death at Cavalry.

MAHAVIR JAYANTI: Celebrated by the Jain community to commemorate the birth of their 24th tirthankara, Lord Mahavira.

BUDDHA PURNIMA: Observed in most countries in East Asia as the birth anniversary of the enlightened Lord Buddha on the full moon night of the month of Vaishakh or Vesak.

EID-UL-FITR: Eid ul-Fitr is an important religious holiday celebrated by Muslims all over the world marking the end of Ramadan, the Islamic holy month of fasting.

BAKRID/ EID-AL-ADHA: Celebrated by Muslims worldwide, the festival honours the willingness of Ibrahim to sacrifice his son out of obedience to God’s command. People sacrifice he-goats after which it is cooked and eaten.

INDEPENDENCE DAY: Itis annually celebrated on 15th of August, as anational holiday, commemorating the nation'sindependence from theUnited Kingdom on 15 August 1947, when the UK Parliament passed the Indian Independence Act 1947,transferring legislative sovereignty to theIndian Constituent Assembly. Every year the Prime Minister of India hoists the national flag at the Red Fort at New Delhi and is observed throughout India with flag-hoisting ceremonies, parades and various cultural events.

RAKSHA BANDHAN: Celebrated as a mark of the bond between brother and sister. On this day, sisters tie beautiful threads called rakhis on their brothers’ wrists as a symbol of their love.

JANMASHTAMI: Janmashtami is an annual Hindu festival celebrated to mark the birth anniversary of the eighth incarnation of Lord Vishnu, that is Lord Krishna. On this occasion people form human pyramids and break dahi handis in celebrations.

GANESH CHATURTHI: More popular in the western India, especially in Maharashtra, It includes installation of Ganesha clay idols in homes as well as publicly on pandals (temporary stages) and eventually their visarjana.

MUHARRAM: It is the first month of theIslamic calendar. During this month, warfareis forbidden.It is held to be the second holiest month, afterRamaḍān. Since theIslamiccalendar islunar calendar, the month of Muharram moves from year to year when compared with theGregorian calendar.

ONAM: Celebrated in the Malayalam month of Chingam, Onam is the official festival of Kerala state. Celebrations include feasts, folk performances, boat races, games and much more.

GANDHI JAYANTI: Marks the birth anniversary of the Father of our nation, Mahatma Gandhi and now also the Swachh Bharat Diwas. It is one of the three national festivals of the country.

DUSSEHRA: Celebrated about twenty days prior to Diwali, Dussehra marks the victory of Lord Rama over Ravana, thus signifying the victory of Good over Evil. It is celebrated through week long plays of Raam-leela and the eventual burning down of Ravana effigies all over the country.

SARDAR VALLABHBHAI PATEL JAYANTI: Declared by the union government as Ekta Diwas, this day marks the birth anniversary of the Iron Man of India, Sardar Vallabhbhai Patel credited for uniting independent India.

EID-E-MILAD: Celebrated to commemorate the birth of the Islamic Prophet Muhammad.

DIWALI: The festival of lights is celebrated on the amavasya of the traditional month of Kartika. Marks the return of Lord Rama to Ayodhya from a fourteen year exile. People light diyas, fireworks and worship Goddess Lakshmi and Lord Ganesha for prosperity and happiness.

GURU NANAK JAYANTI: Celebrated by Sikhs, it is the birth anniversary of the first Sikh Guru.

CHRISTMAS: It is celebrated to commemorate the birth of Lord Jesus Christ. X-Mas trees are decorated, sweets are distributed and people meet their loved ones.

Knowing about the bank holidays helps in planning the withdrawal and deposit of your money as per upcoming requirements. The state holidays are especially important to know because of their local character. On our website, it is our attempt to provide the content that would help the viewers plan better. Some of the above dates are subject to official revision. Stay tuned to the website for revised dates. We appreciate your time.

Hope, the information for Bank Holidays 2020 will help you to plan your work and holidays accordingly.