List of State Wise Bank holidays in India for Year 2017 under Negotiable Instrument Act , 1881. Holidays in bank are govern by NI Act 1881 hence there are difference in Holidays between Banks and Government holidays.
Bank Holidays are different state wise. Bank Holidays 2017 include Public Holidays like Republic Day (Jan 26), Independence Day (Aug 15) and Gandhi Jayanti (Oct 2).
Negotiable Instrument Act , 1881
In terms of Section 25 of the Negotiable Instruments Act, 1881, the expression “public holiday” includes Sunday and any other day declared by the Central Government by notification in the Official Gazette to be a public holiday.
However, this power has been delegated by the Central Government to State Governments vide the Government of India, Ministry of Home Affairs’ Notification No. 20-25-56-Pub-I dated 8 June, 1957. While delegating the power to declare public holidays within concerned States under Section 25 of the Negotiable Instruments Act, 1881, the Central Government has stipulated that the delegation is subject to the condition that the Central Government may itself exercise the said function, should it deem fit to do so. This implies that when Central Government itself has notified a day as “public holiday” under Section 25 of the Negotiable Instruments Act, 1881, there is no need for banks to wait for the State Government notification.