Saturday bank holiday today: Are banks open or closed today on June 28, 2025?
Banks will be open on the first, third, fifth Saturdays in some cases of the month unless specified as holiday in the Reserve Bank of India's (RBI) holiday list.
Banks will be closed today on June 28, 2025 in all states as it is the fourth Saturday of the month.
Also read: Bank holidays in July 2025: Banks to remain shut on these days in July 2025: Check full list Bank holiday on June 30, 2025 Banks will be closed in Mizoram on June 30 for Remna N which is also called Peace Day. Is it possible to complete all banking transactions without visiting the bank? There are some activities which still need bank customers to visit a physical bank branch, even though there is an increasing reliance on digital platforms like online banking and smartphone apps for routine banking tasks including fund transfers, bill payments, balance inquiries, and loan applications. Some of these activities include managing joint account or account closure procedures, cash deposits or withdrawals, accessing locker facilities, resolving unsuccessful transactions, and updating KYC information.Being aware of the bank holiday schedule in your state will help ensure smooth financial planning and avoid any inconvenience due to unexpected bank closures. Jun-25 7 11 27 30 Agartala • Ahmedabad Aizawl • • Belapur • Bengaluru • Bhopal • Bhubaneswar • • Chandigarh • Chennai • Dehradun • Gangtok • Guwahati • Hyderabad - Andhra Pradesh • Hyderabad - Telangana • Imphal • • Itanagar Jaipur • Jammu • Kanpur • Kochi • Kohima • Kolkata • Lucknow • Mumbai • Nagpur • New Delhi • Panaji • Patna • Raipur • Ranchi • Shillong • Shimla • • Srinagar • Thiruvananthapuram • Holiday Description Day Bakri ID (Id-Uz-Zuha) 7 Sant Guru Kabir Jayanti/Saga Dawa 11 Ratha Yatra/Kang (Rathajatra) 27 Remna Ni 30
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Economic Times
an hour ago
- Economic Times
A Bala explains how dialing up risk and taking a leap of faith paid off
A Balasubramanian, MD & CEO, ABSL AMC, says with credit growth anticipated to fuel increased spending, the Indian market's high PE multiples necessitate a 'leap-of-faith' approach. Fund houses, cautiously optimistic, are dialing up risk, driven by the desire to avoid incorrect predictions rather than outright bullishness. One fund house has been successful this year by taking calculated risks. It has been a good market locally and globally. Gold, silver, Bitcoin, NAV of mutual funds, everything is at an all-time high. Where do we go from here? A Balasubramanian: It should remain positive for multiple reasons. When were you bearish last actually? A Balasubramanian: I have never been bearish. If I had been bearish, I would have never made the investment in the market. Okay, so you are bullish. Now what should one do? A Balasubramanian: The way things are shaping up with respect to international developments right from geopolitical risks to tariffs, we are seeing some kind of direction coming in, which will be more positive rather than being negative, that is one. Second, within India, the growth is gradually coming back, supported by increased government spending. There has been increased spending coming from the private sector as well. Third, the Reserve Bank of India has been fully supportive of keeping the interest rate low and they are doing everything that is possible for the financial service sector to actually improve the overall credit offtake in the marketplace as we move forward. So, if you look at the whole environment, it is helping the growth come back. Inflation largely is under control. Broadly as the spending starts coming in, we probably see the numbers for companies getting better, and therefore the earnings outlook will get better. When I look at it on a cost of capital basis, today with interest rates at where they are, the cost of capital in India is the most affordable and anybody can build a business with reasonably good predictions in terms of what kind of margin they will make in terms of ROE. So, we are in a good sweet spot. The fiscal deficit is largely under control, which again gives more room for the government in case they want to put more money in the hands of people, and that will lift the whole economy. With the recent announcement coming from the government creating first time employment, it gives some kind of income in their hands which again encourages people to seek employment and that is the way the whole momentum will get picked up. We are in the right direction and markets have already consolidated quite nicely for the last almost six to nine months and we have weathered around all the volatility that hit the world quite successfully. My own belief is India is getting a little stronger so to speak. The only risk is something, which was always there – the Chinese economy is coming back quite nicely and therefore there will always be question marks in terms of how the flows will come from overseas market to the emerging market and within that, what share will come into India. These debates and question marks will always remain, but otherwise, the domestic economy driven by domestic consumption should be the major driver. But how many of these positives are already in the price? We are just two to three odd percent away or at an index level from the all-time peak. Do you not think that this is already all baked in by the markets? A Balasubramanian: The positivity, of course, will continue. It reflects on the mutual funds, the overall participation in the equity market reflects that given the past trends that we have seen, despite all the uncertainty that came in, India behaved quite nicely from the overall market perspectives. So, that being the case, I would say, it is already priced in and to some extent is getting discounted. But still no clarity has come in terms of how the earnings will pick up. Where it stands today is, nobody wants to take a call in terms to what extent earnings will start showing an upward trend and even analyst predictions have not been very clear. Today nobody is able to gauge what the real impact will be on the interest cost saving which has been one of the lowest in the country, to what extent home loan rates will drop and therefore more demand will come. So, these predictions are not being made currently. There has been a bit of a sluggish period in auto sales. But we also need to take into account agriculture. The monsoon has been good, the rural economy continues to do very well. And the government is pushing quite a lot in terms of rural India focus and therefore all these things will actually lift the income in the hands of people. As credit starts picking up, it will increase the money in the hands of people, and therefore the spending will start coming back. This is a question of time and nobody wants to, of course, at this point of time, predict that India is still trading at 20 times, 20 times PE multiples. So, one has to take a leap-of-faith call and hope nothing goes wrong as nobody wants to go wrong. Today it is not about wanting to be bullish, it's just that nobody wants to go wrong by making wrong predictions. That is the way people must be reserving their say judgment, bullishness, and upping the earnings growth without confirmation coming from the companies themselves. But in your MF schemes, are you all in or are you still sitting on some cash? A Balasubramanian: No, cash will be about 3% to 4%. We are fully invested. In fact, as a fund house, we have been quite successful this year in terms of being bullish. I still remember my CIO equity just about eight or six months back said now the time has come to dial the risk, which is nothing but putting your leap of faith back on the table and taking a bet and that is the way we have done it as a fund house.
Time of India
an hour ago
- Time of India
A Bala explains how dialing up risk and taking a leap of faith paid off
A Balasubramanian , MD & CEO, ABSL AMC , says with credit growth anticipated to fuel increased spending, the Indian market's high PE multiples necessitate a 'leap-of-faith' approach. Fund houses, cautiously optimistic, are dialing up risk , driven by the desire to avoid incorrect predictions rather than outright bullishness. One fund house has been successful this year by taking calculated risks. It has been a good market locally and globally. Gold, silver, Bitcoin, NAV of mutual funds, everything is at an all-time high. Where do we go from here? A Balasubramanian: It should remain positive for multiple reasons. When were you bearish last actually? A Balasubramanian: I have never been bearish. If I had been bearish, I would have never made the investment in the market. Okay, so you are bullish. Now what should one do? A Balasubramanian: The way things are shaping up with respect to international developments right from geopolitical risks to tariffs, we are seeing some kind of direction coming in, which will be more positive rather than being negative, that is one. Second, within India, the growth is gradually coming back, supported by increased government spending. There has been increased spending coming from the private sector as well. Third, the Reserve Bank of India has been fully supportive of keeping the interest rate low and they are doing everything that is possible for the financial service sector to actually improve the overall credit offtake in the marketplace as we move forward. Live Events You Might Also Like: What are the top compounding themes for the next three years? Dikshit Mittal answers So, if you look at the whole environment, it is helping the growth come back. Inflation largely is under control. Broadly as the spending starts coming in, we probably see the numbers for companies getting better, and therefore the earnings outlook will get better. When I look at it on a cost of capital basis, today with interest rates at where they are, the cost of capital in India is the most affordable and anybody can build a business with reasonably good predictions in terms of what kind of margin they will make in terms of ROE. So, we are in a good sweet spot. The fiscal deficit is largely under control, which again gives more room for the government in case they want to put more money in the hands of people, and that will lift the whole economy. With the recent announcement coming from the government creating first time employment, it gives some kind of income in their hands which again encourages people to seek employment and that is the way the whole momentum will get picked up. We are in the right direction and markets have already consolidated quite nicely for the last almost six to nine months and we have weathered around all the volatility that hit the world quite successfully. My own belief is India is getting a little stronger so to speak. The only risk is something, which was always there – the Chinese economy is coming back quite nicely and therefore there will always be question marks in terms of how the flows will come from overseas market to the emerging market and within that, what share will come into India. These debates and question marks will always remain, but otherwise, the domestic economy driven by domestic consumption should be the major driver. But how many of these positives are already in the price? We are just two to three odd percent away or at an index level from the all-time peak. Do you not think that this is already all baked in by the markets? A Balasubramanian: The positivity, of course, will continue. It reflects on the mutual funds, the overall participation in the equity market reflects that given the past trends that we have seen, despite all the uncertainty that came in, India behaved quite nicely from the overall market perspectives. So, that being the case, I would say, it is already priced in and to some extent is getting discounted. You Might Also Like: Macro's good, if micros pick up by festive season, stock and sector specific party will continue: Digant Haria But still no clarity has come in terms of how the earnings will pick up. Where it stands today is, nobody wants to take a call in terms to what extent earnings will start showing an upward trend and even analyst predictions have not been very clear. Today nobody is able to gauge what the real impact will be on the interest cost saving which has been one of the lowest in the country, to what extent home loan rates will drop and therefore more demand will come. So, these predictions are not being made currently. There has been a bit of a sluggish period in auto sales. But we also need to take into account agriculture. The monsoon has been good, the rural economy continues to do very well. And the government is pushing quite a lot in terms of rural India focus and therefore all these things will actually lift the income in the hands of people. As credit starts picking up, it will increase the money in the hands of people, and therefore the spending will start coming back. This is a question of time and nobody wants to, of course, at this point of time, predict that India is still trading at 20 times, 20 times PE multiples. So, one has to take a leap-of-faith call and hope nothing goes wrong as nobody wants to go wrong. Today it is not about wanting to be bullish, it's just that nobody wants to go wrong by making wrong predictions. That is the way people must be reserving their say judgment, bullishness, and upping the earnings growth without confirmation coming from the companies themselves. But in your MF schemes , are you all in or are you still sitting on some cash? A Balasubramanian: No, cash will be about 3% to 4%. We are fully invested. In fact, as a fund house, we have been quite successful this year in terms of being bullish. I still remember my CIO equity just about eight or six months back said now the time has come to dial the risk, which is nothing but putting your leap of faith back on the table and taking a bet and that is the way we have done it as a fund house. You Might Also Like: A lot of money raised by promoters' stake sale finding way back into secondary market: Feroze Azeez ETMarkets WhatsApp channel )
The Print
an hour ago
- The Print
RBI directs banks, other lenders not to levy pre-payment charges on biz loans to individuals, MSEs
In terms of extant guidelines, banks and NBFCs are not permitted to levy foreclosure charges/pre-payment penalties on any floating rate term-loan sanctioned to individual borrowers with or without co-obligant(s) for purposes other than business. The directions will be applicable to all loans and advances sanctioned or renewed on or after January 1, 2026. Mumbai, Jul 2 (PTI) The RBI on Wednesday directed banks and other lenders not to levy any pre-payment charges on all floating-rate loans and advances, including for business purposes, availed by individuals and micro and small enterprises (MSEs). In a circular, the Reserve Bank said the availability of easy and affordable financing to micro and small enterprises (MSEs) is of paramount importance. However, the Reserve Bank's supervisory reviews have indicated divergent practices among regulated entities (REs) with regard to the levy of pre-payment charges in case of loans sanctioned to MSEs, which lead to customer grievances and disputes, it said. Based on a review of the supervisory findings and public feedback received on a draft circular, the central bank has issued the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025. For all loans granted for business purpose to individuals and MSEs, with or without co-obligant(s), a commercial bank (excluding Small Finance bank, Regional Rural bank and Local Area bank), a Tier 4 Primary (Urban) Co-operative bank, an NBFC-UL, and an All India Financial Institution 'shall not levy any pre-payment charges', said the directions. Also, for all loans granted for purposes other than business to individuals, with or without co-obligant(s), a regulated entity (RE) shall not levy pre-payment charges, it said. 'A Small Finance bank, a Regional Rural bank, a Tier 3 Primary (Urban) Cooperative bank, State Cooperative bank, Central Cooperative bank and an NBFCML shall not levy any pre-payment charges on loans with sanctioned amount/ limit up to Rs 50 lakh,' it added. The RBI also said the norms will be applicable irrespective of the source of funds used for pre-payment of loans, either in part or in full, and without any minimum lock-in period. The RBI further said that in case of cash credit/ overdraft facilities, 'no pre-payment charges shall be applicable if the borrower intimates the RE of his/ her/ its intention not to renew the facility before the period as stipulated in the loan agreement, provided that the facility gets closed on the due date'. According to the Directions, the applicability or otherwise of pre-payment charges will be clearly disclosed in the sanction letter and loan agreement. PTI NKD BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
