Bank holidays May 2024: Bank prospects ought to be ready for a number of non-working days in May 2024 as a result of of non secular holidays, Lok Sabha Elections and weekend closures. According to the Reserve Bank of India vacation calendar schedule, the banks in the month of May will likely be for as much as 14 days, which incorporates Sundays and the second and fourth Saturdays.
The vacation schedule for banks is often decided by the RBI in coordination with state governments. Additionally, regional holidays could differ primarily based on the customs and traditions of particular person states. Furthermore, the continued Lok Sabha elections in 2024 might also impression the vacation schedule for banks in sure states.
Are banks closed on May 1?
As per the RBI, the banks will likely be closed in some states as a consequence of Labour Day and Maharashtra Day on May 1.
Maharashtra Day is noticed as a state vacation in Maharashtra, on May 1 to commemorate the creation of the state. Additionally, International Labour Day, also referred to as May Day or Labour Day, celebrates staff and is sponsored by the International Labour Movement. So the banks will likely be closed in Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, Maharashtra, Karnataka, West Bengal, Goa, and Bihar on Wednesday.
Check complete list of bank holidays in May 2024:
| Date | Reason | Holiday in States |
| May 1 | May Day/Labour Day and Maharashtra Day | Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, West Bengal, Goa, Bihar |
| May 5 | Sunday | Nationwide |
| May 7 | Lok Sabha Elections Phase 3 | Gujarat, Madhya Pradesh, Goa, Chhattisgarh |
| May 8 | Birth Anniversary of Rabindranath Tagore | West Bengal |
| May 10 | Basava Jayanti/Akshaya Tritiya | Karnataka |
| May 11 | Saturday | Nationwide |
| May 12 | Sunday | Nationwide |
| May 13 | Lok Sabha Elections Phase 4 | Jammu and Kashmir |
| May 16 | State Day | Sikkim |
| May 19 | Sunday | Nationwide |
| May 20 | Lok Sabha Elections Phase 5 | Maharashtra |
| May 23 | Buddha Purnima | Tripura, Mizoram, Maharashtra, Madhya Pradesh, Chandigarh, Uttarakhand, Arunachal Pradesh, Jammu and Kashmir, Uttar Pradesh, West Bengal, New Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh |
| May 25 | Lok Sabha Elections Phase 6/Nazrul Jayanti | Tripura, Odisha |
| May 26 | Sunday | Nationwide |
According to the Reserve Bank of India, there are three varieties of bank holidays in the nation: Holidays below the Negotiable Instruments Act, holidays below the Negotiable Instruments Act Real Time Gross Settlement Holidays, and Banks’ Closing of Accounts. Notably, Regional bank holidays can differ from state to state and bank to bank in the nation.
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