RBI Declares Bank Holiday on October 29, 2026, for Karwa Chauth in Select Regions

The Reserve Bank of India (RBI) has announced a bank holiday for public and private sector banks on Thursday, October 29, 2026, in specific regions for Karwa Chauth. Customers should note that branches in the designated areas will remain closed, impacting physical banking operations on this day.

The Reserve Bank of India (RBI) has announced a bank holiday for both public and private sector banks on Thursday, October 29, 2026, in observance of Karwa Chauth. This closure will affect bank branches in specific states and regions across India where this festival is celebrated, as per the RBI's holiday schedule.

While the RBI has confirmed the date of the holiday, the exact list of states and regions where this holiday will be observed for Karwa Chauth on October 29, 2026, was not specified in the source material provided. Customers are therefore advised to verify the holiday status with their respective banks or refer to the official RBI holiday calendar for precise regional applicability closer to the date.

Understanding the Impact on Your Banking

A bank holiday means that all physical branches of public and private sector banks will remain closed in the regions observing Karwa Chauth. This directly impacts services that require in-person visits, such as:

• Cash deposits and withdrawals at counters
• Cheque clearances (though digital processing often continues)
• Loan applications and enquiries
• Passbook updates and other customer service requests

Digital Banking Remains Operational

Even on bank holidays, most digital banking services continue to function seamlessly. Retail customers can still rely on:

• Online and Mobile Banking: Funds transfers, bill payments, and balance enquiries can be conducted round-the-clock through internet banking platforms and mobile apps.
• ATMs: Automated Teller Machines (ATMs) across the country will generally remain operational for cash withdrawals, although it's advisable to plan for potential high demand.
• UPI Payments: Unified Payments Interface (UPI) transactions will continue to be processed instantly, enabling seamless digital payments.
• IMPS (Immediate Payment Service): This service allows for instant interbank fund transfers 24x7, including on holidays.
• NEFT and RTGS: While physical branches are closed, the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems operate 24x7, including on holidays, allowing for electronic fund transfers.

Plan Ahead for Your Transactions

Given the bank holiday, it is prudent for individuals and businesses to plan their financial transactions accordingly. If you have any critical banking needs that require a branch visit, it is recommended to complete them before October 29, 2026, or postpone them to the next working day. Always cross-check the holiday list with your specific bank's official website or customer service, especially if you reside in a region where Karwa Chauth is widely celebrated.

The RBI categorises bank holidays under various heads, including those under the Negotiable Instruments Act, Real-Time Gross Settlement Holiday, and Banks' Closing of Accounts. Regional holidays, such as Karwa Chauth, are typically declared under the Negotiable Instruments Act and are state-specific, reflecting local customs and festivals.

This report is for informational purposes only and does not constitute financial advice.