RBI Reschedules Eid-e-Milad Holiday to September 18 in Line with Maharashtra Government's Decision

 * To move of Maharashtra state government, the Reserve Bank of India (RBI) has rescheduled the Eid-e-Milad holiday of banks in the state to September 18, 2023.*

### Introduction

The Reserve Bank of India declared the Eid-e-Milad holiday for banks in Maharashtra on a different date. It was scheduled to be observed on September 28, 2023, but after the change in dates declared by the state government for the state, it will be observed on September 18, 2023. This change in dates will help the banking institutions of the state not to deviate from the new schedule of holidays.

### Maharashtra Government Declares Holiday Change

Such holidays were rescheduled, based on local concerns and requests by the community, by the Maharashtra government; Eid-e-Milad, popularly known as Mawlid, which falls on September 28, was rescheduled for celebration on September 18. It is an important religious event for Muslims and commemorates the birth of Prophet Muhammad with the rescheduling of a date by the government for better celebration.

The result of this decision by the state found its way to all banks in the state. Because banks are included in the purview of the RBI, that bank had to readjust its holidays with the new holiday calendar declared by the state.

### RBI Holiday Adjustment

With the Maharashtra government announcing its date, the RBI issued a notification to schedule the Eid-e-Milad holiday for banks in the state. The central bank made this decision to provide uniformity in terms of operations as well as minimize the disruption in the financial services rendered by the bank. So the banks in the state of Maharashtra will be closed on September 18, 2023, Eid-e-Milad.

It will be for Maharashtra only; in the remaining states, the holiday will be observed as earlier published on 28th September.

### Banking Operation Impact

The rescheduling of the Eid-e-Milad holiday would impact the banks for one day. ATM withdrawal and online banking services will continue, but one should plan in-branch banking activities as it might cause inconvenience for some time.

Financial institutions are likely to notify all related parties of changes in the holiday and change working hours around the holiday.

### End

The RBI had promptly advanced the Eid-e-Milad holiday as per the local government announcement. Customers and businesses should shift plans in light of the September 18 declaration as an official holiday in Maharashtra. Shift to honor religious observance, and at the same time to minimize inconvenience to banking services

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