Bank Holidays 2020

A holiday on which a bank or such government offices of high importance are closed is termed as a bank holiday. Generally, these holidays are festivals which are celebrated in most of the states and days devoted to Nation and patriotism. 26th January is a National Holiday, while Gudi Padwa is a regional holiday.

Though, modern techniques have minimized our dependence on the bank for all the money related matters, as opposed to the practices in the past, still human intervention is required somewhere or the other in every mechanical process. Artificial intelligence is nothing without a human brain making it functional. We don’t need to stand in long queues to get cash nowadays, but ATMs do go out of cash sometimes. And you need to get a cheque cleared and a lot other things are still done only inside the bank premises.

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LIST OF BANK HOLIDAYS 2020

There can be issues regarding too many bank holidays which may create a problem in smooth functioning of the financial market. The economic system never stops, but the employees in bank do deserve to celebrate festivals with their families. Thus, it is always a better option not to complain, rather plan for it. We have listed all the major bank holidays in 2020, using which you can avoid getting stuck in lines and roaming around for nothing good.

January 2020

February 2020

March 2020

April 2020

May 2020

July 2020

August 2020

October 2020

November 2020

December 2020

This list of bank holidays is prepared considering all the dates, tithis and phases of moon etc. We have taken care to ensure that the details are accurate to the finest point.

Bank Holidays Act 1871

Have you ever wondered how bank holidays came into existence? And why it is only a bank holiday instead of a police holiday or doctor’s holiday? It’s certainly not favoritism. Read how it all happened?

John Lubbock, who wanted shorter hours for workers is the person worth thanking. He filed for Bank Holidays Act in 1871, paving a way for us to enjoy a long weekend, some extra time at the beach or enjoying our favorite dishes with loved ones. Lubbock aimed at reducing the pressure on the employees, as he believed that excessive pressure and monotonous routine results in lower productivity. Though, it all happened in UK and he called only for four more days as holidays, which were - Easter Monday, the first Monday in August, Whit Monday, and Boxing Day, yet it became revolutionary and the list is appreciably huge nowadays.

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Lubbock was born in London. His father was a banker and he too, before occupying his place in the Parliament as a venerable member, worked in a bank. Having worked in environments where there’s no peace of mind and you can’t afford to be careless even for a while, he highlighted the need of a normal working class individual. Amongst his political agendas, the one on high priority was making the life of the working class better by offering them shorter working hours, and additional holidays. Only few have thought about modifying the working environment, and he is one of those few.

Why Is It Called A Bank Holiday?

The first answer to this is that a banker helped in getting the holidays and filed for the Bank Holidays Act. The second explanation is that since a bank is what allows a business to run, and in the absence of an organization that is making the transactions possible, no offices can function. With a bank taking an off, the financial system comes to a stop. Thus, the name is apt to specify.

Bank Holidays in India

During the 1870s, India was under British rule. The government was English and the rules were relatively as per their standards. Thus, the Act also applied to India. However, when freedom fight was over, India was a free country and the constitution was being made, there already was a rule book that could be used for reference. Bank holidays now include Indian Holidays and not the days established by the British government.

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Bank Holidays and Public Holidays

The campaign began with the sole motive of giving the employees shorter working hours, better life and more time with family. The Bank Holidays Act was revised as per the need and soon the Public Holidays were also Bank holidays. As contrary to previous conditions, when the bank employees tried to unofficially take a holiday in order to ensure that the financial transactions and the economy do not face a dead end at any point of time; bank holidays gave them a chance to enjoy fixed holidays and make plans to enjoy the same. Since, with revisions, banks also now remain shut on Public holidays, as the two terms are synonymous. It is, however, fascinating enough to know that there was a man who cared enough to give us some rest and more holidays.

We hope you found the information helpful. Keep reading to know more.