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Gandhi Jayanti holiday: Banks, markets shut; UPI and ATMs stay open

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Friday, 2 October, was a gazetted national holiday for Gandhi Jayanti. Most bank branches, central and state government offices, and schools and colleges remained closed across India. Equity markets extended their break after an eighth straight weekly Sensex decline, giving traders a long weekend to digest crude, yields and foreign institutional flows. Customers who needed cash deposits, locker access or demand-draft services were advised to finish branch work on Thursday or wait for the next working day.

Gandhi Jayanti holiday: Banks, markets shut; UPI and ATMs stay open
Closed trading desks on a market holiday — Unsplash (free).

What stayed open for shoppers and travellers

Internet banking, mobile apps, UPI and ATMs continued to function, so salary credits, bill payments, fuel stops and travel bookings were largely unaffected for digitally enabled users. Many private offices ran skeleton staffing or optional work-from-home rosters. Railway and metro networks operated on holiday schedules in major cities, while tourist spots near Rajghat, state samadhis and Khadi outlets drew larger footfall for floral tributes and Swadeshi shopping pitched by political leaders.

Stock market charts
Equity charts idle on Gandhi Jayanti — Unsplash (free).

The market holiday followed a bruising September quarter close — benchmarks had slipped below key moving averages, as detailed in our 1 October close. Holiday explainers listing school, bank and office status circulated widely through the morning.

Practical checklist before Monday

Cheque clearances and cash recyclers at closed branches resume on the next working day. Customers with EMI mandates or SIP debits dated 2 October should verify their bank’s holiday-processing calendar to avoid failed presentations. A clear public brief is in Moneycontrol.

Currency chest logistics and ATM replenishment schedules were advanced on Thursday in several metro circles so that holiday cash demand would not empty machines in high-footfall markets near memorial venues.

ATM and banking hall
A quiet banking corridor — Unsplash (free).

Bottom line

Physical counters paused; digital rails did not — the familiar Gandhi Jayanti pattern in a payments-heavy economy that still treats 2 October as a hard stop for branch banking and exchange trading.

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