NEW DELHI : To improve convenience and ease of banking for customers, the timings of all public sector banks have been changed in Mumbai and the rest of Mumbai from today. The new rules define banking hours based on whether the branch is located in a residential or commercial area. The timings in one particular area will be uniform all over the state.
For example, whether you are visiting a PSU bank branch in Mumbai’s residential area or in Pune’s residential area, the operating hours of all such banks will be the same.
So far, bank timings varied from one bank to another and from one branch to another. Most banks followed a 10 am to 5 pm work hour schedule and were open for the public till 3:30 pm.
New bank timings : In residential areas, the new banking hours are from 9 am to 4 pm while for customers the banking hours are from 9 am to 3 pm.
In commercial areas, banking hours are from 11 am to 6 pm but for customers the banks will close an hour early at 5 pm.
In all other areas, banks will now function from 10 am to 5 pm. For customers, these banks will shut doors at 4 pm.
These timings are applicable to all public sector banks like the State Bank of India (SBI), Bank of Baroda, Punjab National Bank, Canara Bank, Corporation Bank, etc.
Why the change in bank timings : The bank timing change process is part of reforms in PSBs under finance ministry’s Enhanced Access and Service Excellence Programme (EASE) 2.0.
The Indian Banks’ Association (IBA) had approved three time slots for customer banking hours for PSBs all over India. The timings were – 9 am to 3 pm, 10 am to 4 pm and 11 am to 5 pm.
In each state, the State Level Bankers’ Committee (SLBCs) were asked to come with recommendations of uniform time slots after consultation with the leadership of different banks. While some states implemented it earlier, Maharashtra SLBC had recommended the implementation of uniform banking hours with effect from November 1.
State Bank of India working hours
The SBI remains closed on all Sundays and 2nd and 4th Saturdays of every month. Apart from these days, the corporate offices remain open from 10 AM to 4 PM. The bank functions of first, third and fifth Saturday.
|Working hours of SBI on weekdays||10 AM to 4 PM|
|Working hours on working Saturdays||10 AM to 4 PM|
What time does SBI open?
The State Bank of India opens at 10 AM every day on the weekdays. The bank only works on the first, third and fifth Saturday of the month. The bank follows the same opening time as the normal weekdays on a weekend. The bank does not work on even Saturdays and is closed on Sundays.
|SBI Opening time||10 AM|
What time does SBI close?
All SBI offices remain open from 10 AM to 4 PM. The bank closes at 4 PM as per the working time even on the working weekends. Customers can visit the bank anytime between its working hours and can expect a smooth service from the bank.
|SBI Closing time||4 PM|
When do SBI employees take a lunch break?
The State Bank of India follows an official lunch schedule for its employees. The government employees start their lunch break around 1 to 2 PM every day at the same time together. The lunch timings may vary across the bank’s branches.
|SBI Lunchtime||1 to 2 PM|
What is SBI’s NEFT Timing?
All the NEFT transactions of SBI branches take place in the half-hourly batches from 8 am to 7 pm on all days except on the given holidays. The bank operates on the same timings during the working Saturdays. The timings are provided by RBI and bank functions as per guidelines.
|SBI NEFT timings on weekdays||8 AM to 7 PM|
|SBI NEFT timings on working Saturdays||8 AM to 7 PM|
What are the State Bank of India’s RTGS Timings?
The RTGS timings for the governmental bank operate from 8 AM to 4:30 PM on Weekdays. The bank operates on the same timings during the working Saturdays. The timings are provided by RBI and bank functions as per guidelines.
|SBI RTGS Timings on weekdays||8 AM to 4:30 PM|
|SBI RTGS Timings on working Saturdays||8 AM to 4:30 PM|
State Bank of India Holiday List 2020
|January 26, 2020||Sunday||Republic Day|
|March 10, 2020||Tuesday||Holi|
|April 2, 2020||Thursday||Ram Navami|
|April 10, 2020||Friday||Good Friday|
|May 1, 2020||Wednesday||May Day|
|May 7, 2020||Thursday||Buddha Purnima|
|July 31, 2020||Friday||Eid-ul-Fitr|
|August 11, 2020||Tuesday||Janmashtami|
|August 15, 2020||Saturday||Independence Day|
|August 30, 2020||Sunday||Muharram|
|October 2, 2020||Friday||Gandhi Jayanti|
|October 26, 2020||Monday||Dussehra /Vijaya Dashami|
|November 14, 2020||Saturday||Diwali/Second Saturday|
|November 30, 2020||Monday||Guru Nanak’s Birthday|
|December 25, 2020||Friday||Christmas Day|