Show Quick Read Key points generated by AI, verified by newsroom Digital banking services remain fully accessible despite branch closures. Along with the usual weekend breaks, festivals such as Independence Day, Onam, Milad-un-Nabi and Raksha Bandhan will result in banks remaining closed on multiple dates in various states. According to the Reserve Bank of India (RBI) holiday calendar, bank holidays in India are determined under the Negotiable Instruments Act and vary from state to state depending on local festivals and observances. Why Are There Several Bank Holidays In August? While bank branches will be closed on the above dates, digital services will continue uninterrupted.