Story perspectives

India to Close Banks, Offices on October 2 Holiday

By Drooid · Oct 1, 2026, 4:14 PM UTC · How we work

Summary

Story summary

India will observe a series of bank, government and school holidays throughout October 2026, beginning with Gandhi Jayanti on October 2.
Central Government offices nationwide and the NSE and BSE will be closed on October 2.
Banks will stay accessible via internet banking, mobile apps and UPI despite branch closures.
Banks will close on October 17 in Agartala and on October 19 in Agartala, Aizawl, Bhubaneswar and Kolkata for religious holidays.

History

Historical Context

On 8 November 2016 Prime Minister Narendra Modi announced demonetisation of INR500 and INR1,000 notes, prompting bank closures and a 6 % fall in stock indices; the RBI later reported that 99.3 % of the withdrawn cash returned to banks, spurring a surge in digital payments. The October 2026 holiday schedule, also issued by Modi’s government, again shuts banks while keeping UPI active, reflecting reliance on fintech after the 2016 shock.

1 of 2

Story summary

India will observe a series of bank, government and school holidays throughout October 2026, beginning with Gandhi Jayanti on October 2.
Central Government offices nationwide and the NSE and BSE will be closed on October 2.
Banks will stay accessible via internet banking, mobile apps and UPI despite branch closures.
Banks will close on October 17 in Agartala and on October 19 in Agartala, Aizawl, Bhubaneswar and Kolkata for religious holidays.

1 / 2