Bank holiday today, July 7 -- The first month of the Islamic calendar Muharram began on June 27, which means that the most auspicious 10th day of the month, known as Ashura, was observed on Sunday, July 6, as per list of Gazetted holidays. Monday, July 7 is thus not a listed holiday, and banks will function as usual.

Notably, the second and fourth Saturdays and all Sundays are weekly holidays for all public and private banks across India, including the State Bank of India (SBI). Besides this, there are a total of seven listed bank holidays in July this year.

The RBI and state governments create a list of holidays for banks, taking into account national and local occasions, operational requirements, religious celebrations and other cultu...