This year, May 4 falls on the first Saturday of the month, which is not a bank holiday, as per the Reserve Bank of India (RBI). Banks across India will operate as usual on the first and third Saturdays.
Apart from the usual closures on national and regional holidays, banks in India observe closures on the second and fourth Saturdays and Sundays. RBI has a prescribed list of holidays under various categories like the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays, and the annual Banks’ Closing of Accounts.
State-wise bank holiday overview for May 2024
In May 2024, the following dates are declared as bank holidays across various states:
May 1 (Wednesday): Maharashtra Day/May Day, observed nationwide as Labour Day.
May 7 (Tuesday): Lok Sabha General Elections, affecting banking operations in Gujarat, Madhya Pradesh, and Goa.
May 8 (Wednesday): Birthday of Rabindranath Tagore, with banks closed in West Bengal.
May 10 (Friday): Basava Jayanti/Akshaya Tritiya, leading to closures in Karnataka.
May 13 (Tuesday): Another phase of the Lok Sabha General Elections, impacting Srinagar.
May 16 (Thursday): State Day in Sikkim, banks will remain shut.
May 20 (Monday): Lok Sabha General Elections again, this time banks in Maharashtra will not operate.
May 23 (Thursday): Buddha Pournima, banks are closed in multiple states, including Tripura, Mizoram, Madhya Pradesh, Chandigarh, Uttar Pradesh, Arunachal Pradesh, Jammu, Lucknow, West Bengal, New Delhi, Chhattisgarh, Jharkhand, and Himachal Pradesh.
May 25 (Saturday): Nazrul Jayanti and Lok Sabha General Elections, observed in Tripura and Orissa.
Online banking available
Despite the numerous holidays, managing finances remains uncomplicated owing to modern digital banking solutions. Transactions can be completed seamlessly through net banking, mobile banking, and ATMs, ensuring that bank closures do not inconvenience customers.
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