On Monday, September 16, several public and private sector banks across various states will be closed in observance of Eid-E-Milad. This holiday, also known as the birth anniversary of Prophet Muhammad, is recognized as a significant public holiday in India and is celebrated with joy by Muslims around the world.
Significance of Eid-E-Milad
Eid-E-Milad, also referred to as Muhammad’s Birthday, Nabi Day, or Mawlid, honors the birth of Prophet Muhammad, the founder of Islam. The day is marked by commemorative events and celebrations, reflecting on the teachings and contributions of the Prophet. As one of the most revered figures in Islam, his birth is celebrated with great reverence in Mecca, Saudi Arabia, where he was born.
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States Observing Eid-E-Milad with Bank Closures
The following states will see bank closures on September 16 due to Eid-E-Milad: Gujarat, Mizoram, Karnataka, Tamil Nadu, Uttarakhand, Andhra Pradesh, Telangana, Manipur, Jammu, Kerala, Uttar Pradesh, New Delhi, Chhattisgarh, and Jharkhand. While bank branches in these regions will be closed, online banking services will remain operational, allowing customers to manage their finances from home or on the move.
RBI’s Announcement on Bank Holidays
According to a press release from the Reserve Bank of India (RBI) dated September 14, the Government of Maharashtra has rescheduled its public holiday for Eid-E-Milad. Originally set for September 16, 2024, this holiday has been moved to September 18, 2024, under Section 25 of the Negotiable Instruments Act, 1881. Consequently, there will be no transactions or settlements in government securities, foreign exchange, money markets, or rupee interest rate derivatives on September 18, 2024. All transactions due on that day will be postponed to September 19, 2024.
Other September Bank Holidays
In addition to the Eid-E-Milad observance, several other bank holidays are scheduled for September:
- September 17 (Tuesday): Indrajatra/Id-e-Milad (Milad-Un-Nabi) – Banks closed in Sikkim, Chhattisgarh, Maharashtra.
- September 18 (Wednesday): Pang-Lhabsol – Banks closed in Sikkim.
- September 20 (Friday): Friday following Eid-i-Milad-ul-Nabi – Banks closed in Jammu and Srinagar.
- September 21 (Saturday): Sree Narayana Guru Samadhi Day – Banks closed in Kerala.
- September 23 (Monday): Birthday of Maharaja Hari Singh Ji – Banks closed in Jammu and Srinagar.
- September 25 (Wednesday): General Elections to the State Legislative Assembly 2024 – Banks closed in Srinagar.
Availability of Online Banking Services
Despite the physical closures of bank branches, online banking services will continue to function. Customers can perform transactions, check account balances, and manage their financial activities through digital platforms, ensuring that essential banking services remain accessible even on public holidays.
