Banks Working Status on 1st August 2020: Today Bank Working or Closed?

In India, the festival of Eid-ul-Adha aka Bakrid will be celebrated on 1st August, 2020. Co-incidentally the first Saturday of the August month also falls on this day. Banks are kept open on 1st, 3rd, and 5th (if any) Saturdays of the month.

Upon learning the fact that the Islamic festival falls on 1st August, people started questioning that banks will remain open or not. Here’s the answer to whether today is a bank holiday or not.

Is Today a Bank Holiday? Are Banks Open Today?

Each year, banks are usually closed on the festival of Eid-ul-Adha or Bakrid. This year is no different. On 1st August which also happens to be a Saturday along with Bakrid, the banks will remain shut across India the entire day. The net banking services will function in the usual manner. For banks, today is officially a bank holiday. So banks will not be working today. In short, banks are closed in India on account of Bakrid.

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Which Banks are closed and which banks are open today on 1st August?

All the banks comprising of

Nationalized banks (for eg SBI, Bank Of Baroda, India Bank, Union Bank, Vijaya Bank, BOI, Central Bank of India, etc),
Private sector banks (for eg HDFC Bank, ICICI Bank, Axis Bank, Kotak, Yes Bank),
Co-operative banks (for eg SVC Bank, Saraswat Bank, etc)

will remain shut. No banks shall remain open for banking activities. So we conclude that today on 1st August banks are officially closed.

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