Banks in Sikkim will be closed today for Losar, a Tibetan New Year festival, while banks remain open across other Indian states. The Reserve Bank of India determines bank holidays annually, categorizing them into three types: Negotiable Instruments Act, Real-Time Gross Settlement holidays, and account closure days. Regional variations exist based on local festivals, with national holidays like Republic Day universally observed. Losar, a traditional Buddhist celebration, is being marked from February 18-20 this year. The first day involves family gatherings and monastery visits, with people paying respects to Lamas. Other February bank holidays include Chhatrapati Shivaji Maharaj Jayanti in Maharashtra on February 19 and State Day celebrations in Mizoram and Manipur on February 20.
