Bank Holidays In October And November 2018: Banks to Remain Shut On These 11 Days in Festive Season; ATMs May Run Out of Cash

Team Latestly
While state governments are hiking salary of allowances beyond the recommendations of the 7th Pay Commission, the central government employees are yet to receive any such relief.

Mumbai, October 17: With the festive season just around the corner, people may face inconvenience due to bank holidays and shortage of cash at bank ATMs in the coming months. The festive season has already begun and will continue till November. The demand for cash may rise as people are likely to spend more during festive holidays as they visit relatives and friends and take part in social gatherings. During the two-month span, a number of holidays may lead to non-availability of cash in bank ATMs while banking and financial services are likely to be affected.

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In October, banks are likely to remain closed for four days in a row starting from Thursday, i.e October 18 on the occasion of Navami and October 19 on account of Dashmi. On both these days, there will be a complete shut-down of banking services. It will be then followed by October 20, which is a Saturday and October 21, a Sunday. When is Dussehra 2018? Confusion Over Date - Vijay Dashmi on October 19, Public Holiday on October 18.

In November, the first week will have bank holidays due to Diwali and banks will not function from November 7 to November 9. Banks are likely to remain closed on the occasion of Diwali followed by Govardhan puja and Bhaidooj. After this, November 10 is the second Saturday and November 11 is a Sunday so no banking transactions would be possible. Dussehra 2018: Why Is Ravana, The Ten-Headed Demon King Worshipped in Some Parts of India?

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In all, November would see 5 days bank holiday at a go. Meanwhile, at the end of the month, banks will be closed on November 23 for Eid-e-Milad while November 24 is the fourth Saturday and November 25, a Sunday.

As bank holidays vary from state to state, people are advised to check with their respective banks if they are open on these days. People are also advised to estimate cash requirement in advance so that they don't face a cash crunch as ATMs are likely to turn dry during the festive season.