April 26, 2023

Bank Timings in India - Lunch Timings & Working Hours

Banks are financial institutions that provide services, such as accepting deposits, providing loans, and facilitating financial transactions. Banks have set timings for their operations, which may vary depending on the location and type of bank.
Customers who wish to conduct business at the bank must be aware of the regular bank hours. Generally, banks are open from Monday to Friday and remain closed on weekends and national holidays. In India, banks are open from 9:30 am to 5 pm. This article discusses the general bank hours on weekdays and Saturdays, lunch hours, RBI bank hours, and NEFT and RTGS hours. Let's take a look.

Indian Standard Bank Hours

In India, bank hours vary depending on the bank and the branch. A typical bank's opening and closing hours are 9:30 am and 5:30 pm, respectively. While some banking institutions are open twenty-four hours a day from 8:00 am to 8:00 pm, others are not. Customer service is only available for six hours, from 10:00 am to 4:00 pm. Customers are advised to check the bank's business hours before visiting a branch in light of this. It must be remembered that banks may open at different times on weekends.

Major Banks Timings

The bank timings in India of a few major banks are given below in the table:
Name of the BankWeekdays(Monday to Friday)Saturdays(1st, 3rd and 5th of the Month)
HDFC Bank9.00 AM - 3.30 PM9.00 AM - 3.30 PM
State Bank of India9:30 AM - 3:30 PM9:30 AM - 3:30 PM
RBL Bank10:00 AM - 2:00 PM10:00 AM - 2:00 PM
ICICI Bank10:00 AM - 5:00 PM10:00 AM - 5:00 PM
Bank of Baroda10:00 AM - 4:00 PM10:00 AM - 4:00 PM
IDBI Bank10:00 AM - 4:00 PM10:00 AM - 4:00 PM
YES Bank9:30 AM - 4:30 PM9:30 AM - 4:30 PM
Punjab National Bank10:00 AM - 4:00 PM10:00 AM - 4:00 PM
Allahabad Bank10:00 AM - 4:00 PM10:00 AM - 4:00 PM
HSBC Bank10:00 AM - 4:00 PM10:00 AM - 4:00 PM

Bank Timing On Saturdays

In India, banks are generally closed on Saturdays, except for a few select branches that remain open on a half-day basis. The working hours of these branches may vary, but the timings are the same as the weekdays.
The banks are open on the first, third, and fifth Saturdays of each month, provided that day is not a recognized holiday. Banks observe their off days on the second and fourth Saturdays of each month. Numerous banks keep Saturday hours the same as weekday hours.

Bank Lunch Time

During business hours, lunchtime normally happens between 1 pm and 3 pm. Bank personnel adhere to the same rules and take their break during this time. Banks are open as usual throughout lunchtime, though. Individuals are welcome to conduct all operations anytime during the bank's working hours. Bank employees eat their meals in batches so as not to interrupt business.

Bank NEFT Timings

One of the most popular methods for transferring money is using NEFT. Only bank accounts set up to receive NEFT payments for both the sender and the beneficiary are eligible to conduct NEFT transactions. The timing and operation of NEFT transactions are completely within the purview of the RBI, and they decide the timings for NEFT transactions. Initially, RBI had fixed NEFT transfer times during which NEFT transactions could be processed. However, post-2019, RBI declared that no time constraints would apply to NEFT transfers. This indicates that NEFT payments can be carried out anytime, anywhere. This was carried out to encourage electronic trade and financial sector integration on a global scale.

Bank RTGS Timings

The Real Time Gross Settlement (RTGS) system is a funds transfer system that allows individuals and organizations to transfer large amounts of money between bank accounts in real-time. The RTGS system operates on all working days except for second and fourth Saturdays, Sundays, and national holidays.
The RTGS timings vary depending on the bank. However, according to the RBI directive on RTGS timings published in December 2020, the service is available each day of the week, 24 hours a day.
It is important to note that the RTGS timings may differ from one bank to another, and checking the timings with your bank before initiating an RTGS transfer is advisable. You can also check the RTGS timings by visiting the bank's website or contacting the bank directly.

RBI Bank Timings

The Reserve Bank of India (RBI) is the central bank of India and is responsible for regulating and supervising the country's monetary policy. RBI has a network of branches across the country, and these branches have set timings for public dealings.
RBI branches are generally open from Monday to Friday, and they remain closed on Saturdays, Sundays, and national holidays. The working hours of RBI branches may vary depending on the location, but generally, they are open from 10:00 am to 4:00 pm.

Bottom Line

This article has outlined the bank timings and working hours. However, it is advisable to check the timings of the bank you wish to visit beforehand, as the timings may differ from one bank to another. You can also check the timings by contacting the bank directly or by visiting the bank's website.

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility

RELATED ARTICLES

What are Bulk Payments: Benefit, Features & Tips

In today's fast-paced business environment, organisations require efficient payment solutions to facilitate multiple transactions. One such solution is the bulk payment system. In this post, we will discuss the nitty-gritty of bulk payments. Read on to learn about everything involved!

Axis Bank Balance Enquiry Toll Free Number and How to Check

| Axis Bank Balance Enquiry number | 18004195858 | | --- | --- | If you want to check your Axis Bank Account Balance in Hindi, you can call 18004195858. Welcome to our guide on how to check your Axis Bank balance! Whether you're looking to keep track of your spending, avoid overdraft fees, or want to stay on top of your financial situation, regularly checking your bank balance is an important habit to develop. In this article, we'll walk you through the various methods you can use to check your Axis Bank balance, including online banking, mobile apps, and more. So let's get started!

What is Cheque Leaf and How to Cancel & Write: Meaning & Filling

The Cheque leaf is a basic and primary instrument for every account holder. The moment one opens a bank account, the bank provides every holder with a chequebook. This chequebook is a compilation of instruments referred to as cheque or cheque leaf. This cheque leaf is used to make payments to various individuals, Institutions and organizations.

What is MMID in Axis Bank? 

Festive occasion or a medical emergency, your family and extended family need funds and need them urgently.However, they don't have access to netbanking. Is there a way I could make the electronic fund transfer through my mobile phone? Can they receive the funds quickly and safely? Vyola! Technology is indeed transformational and disruptive and has revolutionised India's digital banking sector, making fund transfers accessible to everyone in every corner of the country by using mobile phones as the medium. You can now make instant 247 interbank electronic fund transfer to individuals and enterprises anywhere using your mobile phone throughout the year including Sundays and bank holidays This is where the concept of MMID, Mobile Money Identifier comes in. In simple terms, MMID is a seven digit code which is typically a combination of your mobile number and bank account number which allows for interbank transfers via the mobile banking platform. Customers can transfer and receive funds via Immediate Payment Services (IMPS) using their registered Mobile number and Mobile Money Identifier (MMID). Introduced by the Government of India in 2010, MMID was a step up to the two commonly used transfer methods – the Real Time Gross Settlement or RTGS fund transfers and the National Electronic Fund Transfer or NEFT service. Unlike RTGS and NEFT Services which require net banking facilities to function, with MMID, one could transfer funds to the beneficiary's account electronically using a mobile phone. As long as you have a phone number linked to your bank account, you can receive fund transfers via MMID. All you need is the mobile number, account number and the IFSC details of the payee.