The Reserve Bank of India has released the comprehensive bank holiday calendar for January 2026, revealing that banking services will remain suspended for 16 days during the month. This includes 10 scheduled holidays for regional festivals and national observances, along with 6 regular weekend closures across second and fourth Saturdays plus all Sundays.

January 2026 Holiday Breakdown

Banks across multiple states and Union Territories will observe varied closure schedules based on regional celebrations and national holidays. The month begins with New Year celebrations and concludes with Republic Day, ensuring diverse banking operations across different states.

Complete January 2026 Bank Holiday Schedule

The detailed calendar encompasses regional festivals, religious observances, and national celebrations that will affect banking operations throughout January.

Weekend Closures and Banking Policy

All scheduled and non-scheduled banks observe public holidays on second and fourth Saturdays along with regular Sunday closures, as per RBI notification. The weekend closure schedule for January includes specific dates that contribute to the total 16-day closure period.

Digital Banking Services Continuity

Despite physical branch closures during the 16-day holiday period, customers retain complete access to digital banking services. Online banking platforms, UPI payment systems, net banking, ATM networks, and mobile applications remain operational throughout all holiday periods, ensuring uninterrupted financial transactions when branches remain closed.

The Reserve Bank of India releases bank holiday calendars annually, categorizing closures under Negotiable Instruments Act, Real-Time Gross Settlement Holiday, and Banks' Closing of Accounts. Customers should plan their banking requirements in advance, particularly during extended holiday periods, to ensure smooth financial operations throughout January 2026.

The Reserve Bank of India has issued a stern warning about the potential risks posed by widespread stablecoin adoption, stating it could significantly threaten India's monetary sovereignty and financial stability. The central bank outlined these concerns in a special feature within its bi-annual financial stability report released on Wednesday, emphasizing that "trust in money is the foundation for maintaining financial stability."

Key Risks to Monetary Control

The RBI emphasized that stablecoins create important financial stability risks due to their inherent vulnerabilities. The central bank particularly highlighted concerns about foreign currency denominated stablecoins, which could erode monetary control and weaken the transmission channels of domestic monetary policy. The RBI maintains a cautious stance on crypto assets, including stablecoins, prioritizing sovereign digital infrastructure to safeguard monetary sovereignty amid global shifts.

Fundamental Shortcomings of Stablecoins

According to the RBI, stablecoins position themselves as an alternative form of money but fall short of foundational requirements expected from a sound monetary system. The central bank identified three critical deficiencies that make stablecoins inadequate as a monetary instrument.

The RBI noted that in their short history, stablecoins have proven volatile and vulnerable to confidence shocks and structural fragilities, citing episodes such as the May 2022 collapse of TerraUSD and the March 2023 US banking turmoil. Currently, the central bank maintains that risks from stablecoins to macrofinancial stability outweigh their purported benefits.

CBDC Advocacy and Policy Position

The central bank strongly advocates for Central Bank Digital Currencies over privately issued stablecoins. The RBI argues that CBDCs can achieve the benefits stablecoins claim to offer—efficiency, programmability, and instant settlement—while maintaining the credibility and safety of central bank money. The central bank emphasized that central bank money must remain the ultimate settlement asset and anchor for trust in the financial system.

Regulatory and Security Concerns

The RBI highlighted several critical concerns regarding stablecoin regulation and security. Without adequate regulation, stablecoins can be exploited for serious crimes, including money laundering, terrorism financing, and weapons proliferation financing. The central bank cautioned that stablecoins can circumvent controls on capital movement and complicate macroeconomic management, particularly for emerging economies like India where capital flow management frameworks play a crucial role in preserving external sector stability.

Stablecoins can bypass current foreign exchange transfer systems, impeding the effectiveness of capital flow management measures designed to maintain macroeconomic stability, safeguard foreign exchange reserves, and manage risks associated with sudden and volatile capital flows.

Global Regulatory Landscape

The RBI acknowledged that stablecoin growth could be driven by emerging legal and regulatory frameworks across major jurisdictions between 2023 and 2025, including the United States, European Union, Singapore, Hong Kong, and Japan. However, the central bank maintains its position that jurisdictions must carefully assess attendant risks and determine policy responses appropriate to their financial systems to mitigate risks posed by rapid stablecoin growth.