Bank holidays in India
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A bank holiday in India is a public holiday which is declared specially for banks and other financial institutions. Not all public holidays are classified as bank holidays – bank holidays are declared by central/state governments/union territories under the Negotiable Instruments (NI) Act, 1881.
India is a multicultural and multireligious society and celebrates holidays and festivals of various religions. Consequently, in addition to national holidays, many states and regions have local festivals depending on religious and linguistic demographics. The state governments declare the public holidays for each year.
