Bank holidays in May 2024: Banks are closed for up to 14 days; check state-wise list here | India Business News

Bank holidays May 2024: If you are planning to go to your native financial institution in May 2024, it is necessary to know the financial institution holidays all through the month. According to the Reserve Bank of India (RBI) vacation calendar, banks will probably be closed for up to 14 days, together with Sundays, the second and fourth Saturdays, and extra regional holidays.

National financial institution holidays

All nationwide banks will probably be closed on sure days all through May 2024.The nationwide financial institution holidays embody the next:
– Second Saturday: May 11
– Fourth Saturday: May 25
– Sundays: May 5, 12, 19, and 26

Regional financial institution holidays

In addition to the nationwide holidays, some states have further financial institution holidays to rejoice regional festivals or necessary occasions. Here’s a list of further holidays in May 2024:
– May 7 (Tuesday): Lok Sabha General Elections 2024 (Gujarat, Madhya Pradesh, Goa)
– May 8 (Wednesday): Birthday of Rabindranath Tagore (West Bengal)
– May 10 (Friday): Basava Jayanti/Akshaya Tritiya (Karnataka)
– May 13 (Monday): Lok Sabha General Elections 2024 (Srinagar)
– May 16 (Thursday): State Day (Sikkim)
– May 20 (Monday): Lok Sabha General Elections 2024 (Maharashtra)
– May 23 (Thursday): Buddha Purnima (Tripura, Mizoram, Madhya Pradesh, Chandigarh, Uttar Pradesh, Arunachal Pradesh, Jammu, Bengal, New Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh, Srinagar)
– May 25 (Saturday): Nazrul Jayanti/Lok Sabha General Elections 2024 (Tripura, Orissa)
ALSO READ | Bank holidays 2024: Full list of nationwide and state-wise banking holidays here

Bank vacation classes

According to the RBI, financial institution holidays fall beneath three foremost classes:
1. Holiday beneath the Negotiable Instruments Act
2. Holiday beneath the Negotiable Instruments Act and Real Time Gross Settlement Holiday
3. Banks’ Closing of Accounts
Plan forward
Bank holidays can impression monetary transactions and companies. To keep away from inconvenience, check together with your native financial institution department for any further closures particular to your area. Remember that financial institution holidays in India are decided by the RBI and state governments, and might fluctuate based mostly on native customs.

Bank holidays in May 2024: State-wise list