Bank Holiday Today: Banks will remain closed for eight days in February, in addition to the second and fourth Saturdays and Sundays. However, banks will remain open on Saturday, February 1. Finance Minister Nirmala Sitharaman will present the Union Budget for the fiscal year 2025-26 in Parliament on Saturday.
According to the Reserve Bank of India (RBI) calendar, banks will be closed on various occasions and during festival celebrations in different states. The annual list of bank holidays is determined by the regulator and considers national and regional festivals, weekends, and special occasions.
Are Banks Open Or Closed On Budget Day?
Banks will remain open across all states on Saturday, February 1 as the banks are typically closed on the second and fourth Saturdays of each month. This weekend is especially significant as Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1. Despite the major event, people can visit their local bank branches today to handle important financial matters.
Bank Holidays In February
In February 2025, banks will observe holidays for Saraswati Puja, Thai Poosam, Guru Ravi Das’s Birthday, Lui-Ngai-Ni, Chhatrapati Shivaji Maharaj Jayanti, Statehood Day, Mahashivratri, and Losar.
The month will also include some long weekends for bank employees in certain regions.
During these holidays, bank branches are closed to the public. However, customers can still access digital banking services, ATMs, and mobile banking without any interruptions. The RBI publishes a bank holiday calendar for the entire year, which is followed by banks nationwide.
Union Budget 2025
Finance Minister Nirmala Sitharaman will present her record eighth consecutive Union Budget 2025 today, February 1. The budget is expected to have a balance between the middle class’s desire for tax cuts and the need to boost economic growth.
This budget is seen as crucial as it is expected to address the slowing economic growth and increasing financial strain on the middle class. It comes at a time when the GDP growth rate is projected to fall to a four-year low of 6.4 per cent in the current financial year. The Budget session will start at 11 am in the parliament.
