Will Banks Remain Closed for Lohri, Makar Sankranti?

Today, January 13, marks the vibrant festival of Lohri, a significant celebration in northern Indian states like Punjab and Haryana. This festival heralds the end of the winter solstice and the arrival of longer days, celebrated with bonfires, traditional songs, and delicious treats such as rewri, gajak, and peanuts. While Lohri is a public holiday in some regions, questions arise about the operational status of banks, given the Reserve Bank of India’s (RBI) holiday calendar.

Are Banks Closed Today?

As per the Reserve Bank of India’s holiday calendar, banks across the country will remain operational today, Monday. Public and private sector banks will function as usual, ensuring uninterrupted access to banking services. However, customers in certain states should be aware of upcoming regional holidays later in the week, particularly for Makar Sankranti on January 14.

Makar Sankranti and Regional Bank Holidays

Makar Sankranti, an important festival celebrated under various names across India, will result in bank closures in specific states on January 14. Banks will remain shut in cities such as Ahmedabad, Bengaluru, Bhubaneswar, Chennai, Gangtok, Guwahati, Hyderabad (both Andhra Pradesh and Telangana), Itanagar, Kanpur, and Lucknow. These closures coincide with regional festivities like Uttarayana Punyakala, Pongal, Maghe Sankranti, Magh Bihu, and the Birthday of Hazarat Ali.

RBI’s Holiday Categories

The Reserve Bank of India classifies holidays into three categories:

Real-Time Gross Settlement (RTGS) Holiday: These affect high-value transactions conducted via the RTGS system.
Banks’ Closing of Accounts Holiday: Occurs at the end of the financial year and impacts internal processes.
Holidays Under the Negotiable Instruments Act: State-specific holidays during which banks remain closed for public transactions.

Additionally, banks are closed on the second and fourth Saturdays of every month, along with Sundays. During state-specific festivals, closures apply only to the respective states, whereas national holidays result in a nationwide shutdown of banking operations.

January 2025 Bank Holiday Schedule

To help customers plan better, here’s the detailed list of bank holidays for January 2025:

January 1 (Wednesday): New Year’s Day/Loosong/Namsoong – Banks were closed in Aizawl, Chennai, Gangtok, Imphal, Itanagar, Kohima, Kolkata, and Shillong.
January 2 (Thursday): Loosong/Namsoong/New Year Celebration – Banks were closed in Aizawl and Gangtok.
January 6 (Monday): Sri Guru Gobind Singh’s Birthday – Banks were closed in Chandigarh.
January 11 (Saturday): Missionary Day/Imoinu Iratpa – Banks were closed in Aizawl and Imphal.
January 14 (Tuesday): Makar Sankranti/Uttarayana Punyakala/Pongal/Maghe Sankranti/Magh Bihu/Birthday of Hazarat Ali – Banks will be closed in Ahmedabad, Bengaluru, Bhubaneswar, Chennai, Gangtok, Guwahati, Hyderabad (Andhra Pradesh and Telangana), Itanagar, Kanpur, and Lucknow.
January 15 (Wednesday): Thiruvalluvar Day – Banks will be closed in Chennai.
January 16 (Thursday): Uzhavar Thirunal – Banks will be shut in Chennai.
January 23 (Thursday): Birthday of Netaji Subhas Chandra Bose/Vir Surendrasai Jayanti – Banks will be closed in Agartala, Bhubaneswar, and Kolkata.

Banking Services During Holidays

Even when banks are closed for public transactions, customers can still access banking services through digital platforms. These include:

Net Banking: Enables fund transfers, bill payments, and account management.
Mobile Banking Apps: User-friendly applications for seamless banking on the go.
ATMs: Available 24/7 for cash withdrawals, balance inquiries, and other essential services.
Bank Websites: Provide updates and access to online services.

Planning Banking Activities

With 13 bank holidays in January 2025, including regional festivals, Sundays, and second and fourth Saturdays, customers are advised to plan their banking activities accordingly. While digital banking has made transactions convenient, tasks like cash deposits and document submissions often require in-person visits. Being aware of the holiday schedule can help avoid unnecessary inconvenience.

Festivals Across India

Lohri and Makar Sankranti are celebrated with regional variations, reflecting India’s rich cultural diversity. Lohri, observed in Punjab and Haryana, features bonfires and traditional music. Makar Sankranti, marking the harvest season, is associated with kite flying, sesame-jaggery dishes, and prayers for prosperity.

In Tamil Nadu, Pongal is a four-day festival dedicated to the Sun God and agricultural abundance. Assam’s Magh Bihu includes community feasts and traditional games, while Gujarat’s Uttarayan is synonymous with colourful kite festivals. These unique celebrations highlight the festive spirit and regional traditions across India.

Weather and Travel Updates

Meanwhile, northern India continues to grapple with dense fog and a severe cold wave, affecting visibility and transportation. Flight operations at Delhi’s Indira Gandhi International (IGI) Airport have been disrupted, prompting authorities to issue advisories for travellers. Passengers are advised to check flight schedules and stay updated to avoid inconvenience.

Financial Sector News

In the financial sector, the Ministry of Finance is set to review initiatives related to financial inclusion. The Financial Services Secretary will meet with Public Sector Bank (PSB) heads next week to evaluate progress and strategise for broader outreach. Customers can expect updates on new schemes and digital banking enhancements following these discussions.

Conclusion

While banks are operational today, January 13, the upcoming holidays on January 14 and beyond underscore the importance of planning banking activities. Customers should utilise digital platforms for seamless transactions and stay informed about regional holiday schedules. Festivals like Lohri and Makar Sankranti not only celebrate cultural heritage but also emphasise the values of community, gratitude, and financial preparedness. Whether through traditional festivities or modern banking solutions, this season is an opportunity to strengthen connections and ensure readiness for the days ahead.

With inputs from agencies
Image Source: Multiple agencies