The Reserve Bank of India (RBI), on July 8, 2021, issued updated instructions directing banks to implement a robust ‘Mandatory Leave’ policy for employees posted in sensitive positions or critical areas of operation. These revised guidelines replace (and repeal) the earlier RBI circular DBR.No.BP.BC.88/21.04.048/2014-15 dated April 23, 2015, reflecting the regulator’s renewed focus on operational…
Banks provide for certain categories of special and extraordinary leave to employees, in addition to regular leave entitlements, to support social welfare initiatives, sporting activities, and personal exigencies. The key provisions are outlined below. This FAQ explains the special and extraordinary leave facilities available to bank employees, beyond regular leave entitlements. — 1. Who can…
The Reserve Bank of India (RBI) has released its annual publication, the Report on Trend and Progress of Banking in India 2024-25, under Section 36(2) of the Banking Regulation Act, 1949. This flagship report provides an extensive overview of the performance and resilience of India’s banking and financial system—covering scheduled commercial banks (SCBs), co-operative banks,…
The government on Wednesday December 31, 2025, announced that the interest rates on small savings schemes, including PPF, SSY, NSC, and post office deposits, will remain unchanged for the Fourth Quarter of FY 2025-26 (from January 1, 2026 to March 31, 2026), according to a Finance ministry notification. Interest Rate Chart: Scheme Interest Rate (January-March…
Key Takeaways for Banks and Customers The Reserve Bank of India (Commercial Banks – Know Your Customer) Directions, 2025 represent a comprehensive reset of the KYC framework for commercial banks. Replacing the long-standing 2016 KYC Master Direction, the new Directions harmonise KYC references across the banking and payment ecosystem while strengthening customer due diligence, accountability,…
Bank holidays play a crucial role in the smooth functioning of banking operations, financial planning, and customer convenience. In India, bank holidays are notified under the provisions of the Negotiable Instruments Act, 1881, and vary across States and Union Territories depending on local festivals, regional observances, and government notifications. To help bankers, professionals, businesses, and…
The RBI has now put in place a uniform, time‑bound framework for settlement of claims in respect of deceased customers’ deposits, replacing the earlier patchwork of circulars and ensuring standard procedures across banks. The new Directions mandate simplified documentation, defined thresholds for small-value claims, a strict 15‑day turnaround time (TAT), and compensation for delay, thereby…
The Administration of Union Territory of Ladakh, through notification No.530-LA(GAD)of 2025 dated 14.11.2025 declared Bank holidays to be observed throughout the UT of Ladakh during the calendar year 2026 under section 25 of negotiable instruments act 1881 Sr.No Date Day Occasion/Festival Date 1 26.01.2026 Monday REPUBLIC DAY 2 16.02.2026 Wednesday MELA DOSMOCHEY (Leh District &…
The following are the public (bank) holidays for Karnataka in 2026, declared under the explanation of Section 25 of the Negotiable Instruments Act, 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2026 Monday REPUBLIC DAY 2 15.02.2026 Sunday SHIVRATHRI 3 04.03.2026 Wenesday HOLI 4 21.03.2026 Saturday EID-AL-FITR 4 31.03.2026 Tuesday MAHAVIR JAYANTHI 5 01.04.2026 Wednesday ANNUAL CLOSING…
The UT administration of Dadra and Nagar Haveli and Daman and Diu through notificationNo.11/01/96-06/GA/Holiday/III/2024-25 dated 22.12.2025 declared following Bank Holidays u/s 25 of Negotiable Instrument Act 1881 for the year 2026. Date Day Holiday 26.01.2026 Monday REPUBLIC DAY 04.03.2026 Wednesday HOLI 01.04.2026 Wednesday ANNUAL CLOSING OF ACCOUNT (This holiday is applicable only to Commercial Banks)…