The Reserve Bank of India (RBI) announces a bank holiday calendar every year. This calendar states banks in which states will be closed on particular dates.
Notably, the RBI decides on bank holidays in four categories: Negotiable Instruments Act, Holidays, Real-Time Gross Settlement Holiday, and Banks’ Closing of Accounts. Besides some national holidays, there are certain state-specific holidays that include Sundays and second and fourth Saturdays of every month.
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Since most of us have bank-related work every now and then, it is important to keep a check on the bank holidays announced by RBI.
The fifth month of the year, May 2022, brings with it a slew of bank holidays. Banks will be closed for a total of 11 days in May. This coming week itself, banks will be closed for 3 days. So, if you have any important bank-related work, we suggest you complete it asap.
In the month of May, there are four holidays under the Holidays Under Negotiable Instruments Act, while the remaining seven are weekend leaves. Customers will still be able to use the online banking services during bank holidays.
RBI guidelines clearly state that the public sector, private sector, foreign banks, cooperative banks, and regional banks in India will have to stay closed on the specified dates. RBI announced holidays for lenders under these categories – the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts.
List of bank holidays in the coming week of May 2022
May 8, 2022: Sunday
May 9, 2022 (Monday): Birth anniversary of Rabindranath Tagore [Holiday in West Bengal]
May 14, 2022: Saturday
List of bank holidays in the remaining days of May 2022
May 15, 2022: Sunday
May 16, 2022 (Monday): Buddha Purnima [Banks will remain closed in Tripura, Belapur, Madhya Pradesh, Punjab and Haryana, Uttarakhand, Jammu, Uttar Pradesh, Maharashtra, New Delhi Chhattisgarh, Jharkhand, Himachal Pradesh, and Srinagar]
May 22, 2022: Sunday
May 28, 2022: Saturday
May 29, 2022: Sunday
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