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Bank holidays in August 2022: Banks to remain closed for 18 days, check complete list here

Notably, the online banking service will not be affected. It will work round the clock. So, bank customers are advised to link their accounts online.

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Bank holidays September 2022

With July coming to an end, it’s time to look for bank holidays in August. In the upcoming month, the banks will be closed for 18 days, including weekends. So, if you are planning to head to a bank in the month of August, then you must go through the list of bank holidays to avoid any inconvenience.

Both private and public banks will be closed for 18 days. The banks for festivities will be closed for twelve days while the remaining six days include the second and fourth Saturdays and Sundays.

August will witness a number of regional festivals. From Muharram, Raksha Bandhan, Independence Day, Janmashtami to Teej, here are the days when the bank will be closed in July. However, these holidays will not be applicable in all states, it will vary from state to state. As for Patriot’s Day, banks will only be closed in Imphal and not in other states.

Notably, the online banking service will not be affected. It will work round the clock. So, bank customers are advised to link their accounts online.

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Bank Holidays in August 2022

August 1: Drukpa Tshe-zi — Gangtok

August 7: First Sunday

August 8: Muharram (Ashoora) — Jammu, Srinagar

August 9: Muharram (Ashoora) — Agartala, Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur and Ranchi.

August 11: Raksha Bandhan — Ahmedadabad, Bhopal, Dehradun, Jaipur, and Shimla

August 12: Raksha Bandhan — Kanpur, and Lucknow

August 13: Second Saturday + Patriot’s Day in Imphal

August 14: Second Sunday

August 15: Independence Day — All over India

August 16: Parsi New Year (Shahenshahi) — Belapur, Mumbai, and Nagpur

August 18: Janmashtami — Bhubaneswar, Dehradun, Kanpur and Lucknow

August 19: Janmashtami (Shravan Vad-8)/ Krishna Jayanthi — Ahmedabad, Bhopal, Chandigarh, Chennai, Gangtok, Jaipur, Jammu, Patna, Raipur, Ranchi, Shillong and Shimla.

August 20: Sri Krishna Ashtami — Hyderabad

August 21: Third Sunday

August 27: Fourth Saturday

August 28: Fourth Sunday

August 29: Tithi of Srimanta Sankardeva — Guwahati

August 31: Samvatsari (Chaturthi Paksha)/Ganesh Chaturthi/ Varasiddhi Vinayaka Vrata/ Vinayakar Chathurthi —  Ahmedabad, Belapur, Bengaluru, Bhubaneswar, Chennai, Hyderabad, Mumbai, Nagpur and Panaji.

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Bank holidays October 2022: Banks to remain closed for 21 days due to Durga Puja, Diwali, and Chhath, check the full list of holidays here

The Reserve Bank of India (RBI) has released the list of bank holidays in October 2022 according to the guidelines.

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Bank holidays October 2022

October is a month full of festivities across India. This means banks working days will be affected. Last month, banks were shut for 21 days based on the festivals inlcuding Onam, Heroes’ Martrydom Day, Maharaja Agrasen Jayanti, S Bhagat Singh Jayanti, and others.

The Reserve Bank of India (RBI) has released the list of bank holidays in October 2022 according to the guidelines. The RBI divides holidays into three categories-Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday, Holiday under Negotiable Instruments Act, and Banks’ Closing of Accounts.

In October, both private and public sector banks will remain closed for 21 days due to multiple festivals including Durga Puja/Dussehra, Diwali, and Chhath Puja including the second and fourth Saturdays and Sundays.

Check the full list of bank holidays here

  • October 1: Half Yearly Closing of Bank Accounts
  • October 2: Sunday & Gandhi Jayanti Holiday
  • October 3: Durga Puja (Maha Ashtami)
  • October 4: Durga Puja/Dussehra (Maha Navami)/Ayudha pooja/Janmotsav of Srimanta Sankardeva
  • October 5: Durga Puja/Dussehra (Vijaya Dashmi)/Janmotsav of Srimanta Sankardeva
  • October 6: Durga Puja (Dashain)
  • October 7: Durga Puja (Dashain)
  • October 8: Second Saturday Holiday and Milad-i-Sherif/Eid-i-Milad-ul-Nabi (Birthday of Prophet Muhammed)
  • October 9: Sunday
  • October 13: Karva Chauth
  • October 14: Friday following Eid-i-Milad-ul-Nabi
  • October 16: Sunday
  • October 18: Kati Bihu
  • October 22: fourth Saturday
  • October 23: Sunday
  • October 24: Kali Puja/Deepavali/Diwali (Laxmi Pujan)/Naraka Chaturdashi)
  • October 25: Laxmi Puja/Deepawali/Govardhan Pooja
  • October 26: Govardhan Pooja/Vikram Samvant New Year Day/Bhai Bij/Bhai Duj/Diwali (Bali Pratipada)/Laxmi Puja/Accession Day
  • October 27: Bhaidooj/Chitragupt Jayanti/Laxmi Puja/Deepawali/Ningol Chakkouba
  • October 30: Sunday
  • October 31: Sardar Vallabhbhai Patels Birthday/Surya Pashti Dala Chhath (Morning ardhya)/Chhath Puja

Full list of weekly bank holidays across India

  • October 16: Sunday
  • October 22: Fourth Saturday
  • October 23: Sunday
  • October 30: Sunday

October is full of festivities and to avoid any inconvenience bank holders are advised to plan their bank visit accordingly.

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10 more days to go: RBI mandates tokenisation of debit and credit cards from October 1, here are the new rules kicking in | FAQ

The last date to tokenise your cards is September 30.

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New Debit card and credit card rule

The Reserve Bank of India (RBI) has announced new rules for debit and credit card holders from October 1. Under these rules, the users are required to tokenise their debit and credit cards. The last date to tokenise your cards is September 30.

But what actually is tokenisation? Here’s all you need to know about it.

What is tokenisation of Debit and Credit cards?

As per the RBI, tokenisation refers to the replacement of actual card details with an alternate code called the token.

What is the benefit of tokenisation?

Since the merchant is not given access to the actual card information while completing the transaction, tokenized card transactions are perceived to be safer.

Will the merchant have access to your personal information after tokenisation?

The merchants can’t store information like CVV and the number while making a transaction. RBI considers tokenisation as the more secure and safest online payment system.

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How can the tokenisation be carried out?

By submitting a request through the token requestor’s app, the cardholder can have their card tokenized. The token requestor will send the request to the card network, and with the card issuer’s approval, the card network will issue a token corresponding to the combination of the card, the token requestor, and the device.

How to tokenise your card?

Step 1: Visit the merchant’s website or app and initiate a transaction.
Step 2: Select the credit or debit card and enter the CVV details.
Step 3: Then an option will pop up-either- Secure your card or Save card as per RBI guidelines. Tick-mark the check box.
Step 4: After that, you will receive the OTP on your registered mobile number.
Step 5: Now, the tokenisation process is done.

Can you de-tokenise the card?

Yes, you can convert the token back to actual card details. This is known as de-tokenisation.

What are the charges that the customer needs to pay for availing of this service?

The customer need not pay any charges for availing of this service.

How is tokenisation different from Credit and Debit cards?

The 16-digit card number will be replaced with a token that is created by the card network and sent back to the retailer. The retailer will keep a record of this token for the next transactions. To continue with the approval process, they must enter their CVV and OTP.

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Cyrus Mistry, former Tata Group chairman, dies in road accident in Palghar

The official said four people were in the car when the accident happened, of which two succumbed to injuries.

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Cyrus Mistry, former Tata Group chairman, dies in road accident in Palghar

Industrialist and former Tata Sons chairman Cyrus Mistry died in a car accident on Sunday. The accident took place in Palghar at around 3:15 pm on a bridge over the Surya river when the 54-year-old was travelling to Mumbai from Ahmedabad. The industrialist succumbed to injuries.

According to the reports, Mistry was returning from Ahmedabad when his car hit the divider on the road. The reports of his demise have been confirmed by the Palghar Superintendent of Police.

The official said four people were in the car when the accident happened, of which two succumbed to injuries. The other two, including the driver, have been injured. All the injured have been admitted to a local hospital in Kasa. The industrialist was travelling in a Mercedes car.

Mistry is survived by his wife Rohiqa Chagla, the daughter of lawyer Iqbal Chagla and granddaughter of jurist M.C. Chagla, and two sons Firoz Mistry and Zahan Mistry.

Cyrus Mistry’s daughter Aloo is the wife of Noel Tata, Ratan Tata’s step-brother.

All you need to know about Cyrus Mistry

Cyrus Pallonji Mistry was the sixth chairman of the Tata Group and only the second after Nowroji Saklatwala, to not bear the surname Tata.

After Ratan Tata announced his retirement in December 2012, Cyrus Mistry took over as chairman.

He assumed leadership of the Tata Group in December of that year after being chosen by a selection committee in mid-2012. But after 4 years he was removed in a boardroom coup led by Tata Trusts, which owned 66 per cent of Tata Sons and was controlled by Ratan Tata.  

Natarajan Chandrasekaran was appointed as the new chairman a few months after the former chairman, Ratan Tata, returned as an interim chairman.

In May, the Supreme Court rejected a petition by the Sapoorji Pallonji (SP) group asking for a review of the 2021 judgement upholding the Tata group’s decision to oust Cyrus Mistry as executive chairman of the Tata Sons.

After his Tata stint, Cyrus went on to set up a venture capital firm, Mistry Ventures LLP.

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