In May, banks across India will observe closures on 14 days due to a mix of national and regional holidays, including festivals and election-related leaves. Customers are advised to schedule their banking activities accordingly to avoid inconvenience. Bank holidays are determined based on various factors such as festivals, regional celebrations, and regular weekend offs like the second and fourth Saturdays, along with Sundays.
As per the calendar In May 2024, several holidays will affect banking operations across different regions of India. These include Maharashtra Din/May Day (Labour Day) on May 1st, Lok Sabha General Elections 2024 on May 7th and May 13th, Basava Jayanti/Akshaya Tritiya on May 10th, and Buddha Pournima on May 23rd. Additionally, there are weekend holidays on May 5th, May 12th, and May 19th, along with the Second Saturday on May 11th and Fourth Saturday on May 25th. Specific regions such as Belapur, Bengaluru, Chennai, and others will observe these holidays as per their respective calendars. It’s essential for customers to plan their banking activities, accordingly, considering the closures on these days.
For instance, in Srinagar, bank employees will enjoy an extended weekend due to the combination of the second Saturday, Sunday, and Lok Sabha election leave on May 13.
While physical branches will be closed during these holidays, customers can still access banking services seamlessly through digital channels such as mobile banking, UPI, and internet banking. Any changes or disruptions in services will be communicated to customers in advance.
Bank holidays in India are governed by the State Government, Central Government, and Union Territories Act of 1881. The Reserve Bank of India (RBI) publishes the annual bank holiday calendar, which is followed by all banks nationwide. Customers are encouraged to plan their financial transactions in advance and utilize digital banking services to ensure a smooth banking experience during the holiday period.
