Banks, schools, colleges and government offices across India will remain closed tomorrow, October 2, for Gandhi Jayanti while digital banking and emergency services continue uninterrupted.
Published: October 1, 2026, 3:12 PM IST
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Gandhi Jayanti holiday- Representational AI image
Gandhi Jayanti 2026: All public sector, private sector, foreign and cooperative bank branches across India will remain closed tomorrow, October 2, 2026, on the occasion of Gandhi Jayanti. Designated as a national holiday under the Reserve Bank of India (RBI) holiday list, physical branch services including over-the-counter transactions, cheque clearance and demand draft issuance will be suspended. However, digital banking facilities such as UPI apps (Google Pay, PhonePe, Paytm), mobile and internet banking, NEFT/RTGS transfers and cash withdrawals/ deposits via ATMs will remain fully operationalHere is an update on the schools, colleges, educational institutions.
Update on Schools, colleges, educational institutions
Schools, colleges, educational institutions and public offices across India will remain closed tomorrow, October 2, 2026, in observance of Gandhi Jayanti. As one of India’s three gazetted national holidays, the closure applies mandatory shut-downs across central and state government departments, public sector units,and schools nationwideWhile commercial IT parks and corporate offices operate under national holiday employment norms, students and working professionals are set to get a three-day long weekend as October 2 falls on a Friday.
RBI Bank Holiday & Digital Banking Status Summary
| Parameter | Operational Details |
| Holiday Event | Mahatma Gandhi Jayanti (157th Birth Anniversary) |
| Date & Day | October 2, 2026 (Friday) |
| RBI Holiday Classification | National Holiday (Closed across all states/UTs) |
| Physical Branches | CLOSED (Public, Private, Regional Rural & Cooperative Banks) |
Repo rate likely to reach 6.25 pc by mid‑2027, 25 bps hike in Oct
In a related development, the Reserve Bank of India is likely to begin a rate‑hiking cycle at its October 7 meeting and to raise the repo rate to 6.25 per cent by the first half of 2027, as resilient growth and broadening inflation risks prompt a shift away from monetary accommodation, a report by IANS news agency said.
The report from Bank of America (BofA) Securities said the bank has brought forward its earlier call for a December hike and raised its total tightening forecast to 100 basis points from an earlier 50 basis points.
The investment bank predicted an initial 25 basis points hike in October, a further 50 basis points by December 2026 and another 50 basis points in the first half of 2027The RBI is likely to move to a “calibrated tightening” stance in December, once the first 50 bps is done, the report added.
(With inputs from agencies)
