Banks in several states and Union Territories will remain closed on Wednesday, August 26, on account of Eid-e-Milad, also known as Milad-un-Nabi, according to the Reserve Bank of India's holiday schedule.
The holiday will apply to bank branches in several major centres, including Mumbai and Belapur in Maharashtra, Bengaluru, Bhopal, Chennai, Dehradun, Hyderabad, Imphal, Jammu and Srinagar, Kanpur and Lucknow, Kochi and Thiruvananthapuram, Nagpur, New Delhi, Patna, Raipur, Ranchi and Vijayawada.
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- Belapur & Mumbai (Maharashtra)
- Bengaluru (Karnataka)
- Bhopal (Madhya Pradesh)
- Chennai (Tamil Nadu)
- Dehradun (Uttarakhand)
- Hyderabad (Telangana)
- Imphal (Manipur)
- Jammu & Srinagar (Jammu and Kashmir)
- Kanpur & Lucknow (Uttar Pradesh)
- Kochi & Thiruvananthapuram (Kerala)
- Nagpur (Maharashtra)
- New Delhi (Delhi NCR)
- Patna (Bihar)
- Raipur (Chhattisgarh)
- Ranchi (Jharkhand)
- Vijayawada (Andhra Pradesh)
For bank customers, the closure applies to physical branches. Digital banking services such as UPI, mobile banking and internet banking are expected to remain available. ATMs will also continue to function, subject to cash availability.
Services that require a visit to a branch, including over-the-counter cash transactions, cheque-related work and passbook updates, may not be available on the holiday.
The bank holiday does not necessarily mean that private-sector offices will remain closed. Holiday rules for private companies can vary depending on the state, employer and local notifications.
The holiday status of government offices and private establishments can differ. August 26 is a gazetted holiday for central government offices, while state government holiday rules may vary depending on local notifications. Private companies are not necessarily required to close and may follow their own holiday calendars.
The Indian stock market will remain open for regular trading on August 26, which is being observed as Eid-e-Milad. The NSE and BSE have not declared August 26 a trading holiday.
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However, August 26 is a settlement holiday, which means the clearing and settlement of funds and securities will be paused for the day. This can delay the credit of sale proceeds and the settlement of shares bought in delivery trades.
Eid-e-Milad commemorates the birth anniversary of Prophet Muhammad (PBUH) and is observed on the 12th day of Rabi' al-Awwal, the third month of the Islamic lunar calendar. The occasion is marked by prayers, religious gatherings, lectures and recitations, while mosques and residential areas are often decorated.
Eid-e-Milad holds deep religious significance for Muslims, who use the occasion to remember Prophet Muhammad's life, teachings and message of peace, kindness and compassion.
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