Why are banks closed in Gujarat today, despite it being 5th Saturday? State-wise bank holiday 31 Oct; PM Modi in Gujarat
Banks in Gujarat are closed today, Saturday, 31 October, despite it being the fifth Saturday of the month. The closure is not related to the Reserve Bank of India's (RBI) regular second- and fourth-Saturday bank holiday rule.
Instead, banks in the state are observing a special public holiday declared by the Gujarat government.
The Gujarat government has included 31 October in its list of public holidays for banks in 2026. Here's why banks are closed in Gujarat today, whether branches in other states are operating, and what other bank holidays are scheduled in the state this year.
The Gujarat Government has issued a notification dated 27 November 2025, announcing the public holiday list for banks in the state for 2026. The notification was issued under Section 25 of the Negotiable Instruments Act, 1881, in consultation with the Reserve Bank of India (RBI), Ahmedabad.
The notification states, “The Government of Gujarat, in consultation with Reserve Bank of India, Ahmedabad is pleased to declare the following days to be public holidays for banks in Gujarat during the year 2026.”
Under this list, 31 October has been declared a bank holiday on account of Sardar Vallabhbhai Patel's birth anniversary.
Therefore, bank branches across Gujarat, including those of the State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB) and other public- and private-sector lenders, will remain closed today.
The fifth Saturday is ordinarily a working day for banks. Under the RBI's existing arrangement, banks observe holidays on the second and fourth Saturdays of every month. However, state-specific holidays can also lead to bank closures on other days.
Sardar Vallabhbhai Patel was born on 31 October 1875 in Nadiad, Gujarat. Popularly known as the 'Iron Man of India', he was a prominent freedom fighter and India's first Deputy Prime Minister and Home Minister after independence.
His birth anniversary is observed as Rashtriya Ekta Diwas (National Unity Day) to commemorate his contribution to national integration and unity. The Statue of Unity, the world's tallest statue, inaugurated in Gujarat in 2018, also honours his legacy.
According to the PM India website, Prime Minister Narendra Modi is on a two-day visit to Gujarat on 30 and 31 October.
Prime Minister Narendra Modi on Saturday paid tribute to Sardar Vallabhbhai Patel on his birth anniversary, saying that he dedicated his life to building a strong, prosperous and capable India, DD News reported at around 9:29 am.
At around 5:30 PM, the Prime Minister will participate in the Rashtriya Ekta Diwas celebrations commemorating the 151st birth anniversary of Sardar Vallabhbhai Patel.
According to the Gujarat government's 2026 bank holiday notification, the following are the remaining holidays after 31 October:
- 10 November 2026 (Tuesday): Vikram Samvat New Year Day
- 25 December 2026 (Friday): Christmas
No. October 31 is not a nationwide bank holiday. The closure applies to Gujarat under the state government's bank holiday notification. Therefore, bank branches in other states, including Delhi, Kolkata, Mumbai, and others, will operate as usual.
Sheetal Goel is a Content Producer at Livemint, where she covers corporate developments, personal finance, business trends, markets, and SEBI-related updates. She focuses on simplifying complex financial concepts and presenting them in a clear, reader-friendly manner, thereby helping audiences better understand investment trends, personal finance, and market developments. Her writing focuses on making finance more accessible to everyday readers while maintaining clarity, accuracy, and relevance. <br><br> She holds a degree in Economics (Hons.) along with an MBA in Finance, which has helped her develop a strong foundation in financial analysis, market understanding, and business reporting. Before joining journalism, she worked with finance and broking firms, where she closely followed market developments, investment strategies, and evolving industry trends. This practical exposure strengthened her understanding of financial markets. She has also written content across multiple formats and platforms, including YouTube, LinkedIn, and Instagram. <br><br> Over time, she has developed expertise in covering market-linked stories, investor-focused topics, and regulatory updates in a simplified yet informative style. She also enjoys reading and listening to Hindi poetry, reflecting her appreciation for literature and creative expression beyond the world of markets and numbers.
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