Half Yearly Closing is the annual financial event that occurs on September 30 and October 1. Banks focus on closing their accounts, tackling their balance sheets and a round of business accounts and settling various payments. Marked at the half-year mark of the financial year, which begins in April and goes on till March, Half Yearly Closing 2021 will be observed on September 30 and October 1 as per usual. This observance is crucial for businesses and account managers across India and is said to be one of the most stressful and busy times of the year. Many banks close their doors for normal day-to-day transactions as they are busy accounting and ensuring all the accounts are closed and balanced appropriately. To mark this day, people often share Half Yearly Closing Account jokes and messages and increase awareness about the actual workings of this day on Half Yearly Closing Account 2021. As we prepare to mark this day and prepare and plan accordingly, here’s everything you need to know about Half Yearly Closing of Accounts.
When Is the Half Yearly Closing Account 2021?
Half Yearly Closing Account 2021 will be observed by Indian Banks on September 30 and October 1. Traditionally, on these two days, bankers focus on clearing their own books and often close functions for consumer banking at branches. Bank Holidays in October 2021: Banks To Remain Shut on These Days During the Month, Check State-Wise List of Bank Holiday Dates Here.
Is Half Yearly Closing a Bank Holiday?
Half Yearly Closing has never been a holiday for the employees. However, traditionally many banks have shut down services for consumers on this day. In 2020, the Reserve Bank of India put out an order highlighting that Half Yearly Closing 2020, on September 30 and October 1, will not mean that banking activities are closed for the public. As of Half Yearly Closing Account 2021, checking with your individual branches before stepping out is the smarter thing to do.
The observance of Half Yearly Closing Account 2021 is crucial for book-keeping across the country. Businesses and agencies also take this opportunity to complete their half-yearly billing and begin planning for the most important quarter - OND (October, November, December).
(The above story first appeared on LatestLY on Sep 28, 2021 06:05 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).