Bank Holidays in May 2024: The bank holidays list for May has been released by the Reserve Bank of India (RBI) . The list states that banks in India will be closed for 14 days next month. These bank holidays include religious holidays, Lok Sabha Election 2024 holidays, all Sundays and the second and fourth Saturdays. However, bank customers must note that while some of these bank holidays are valid across the nation, others are just restricted to certain states only.
The RBI has established three categories for bank holidays: Real-Time Gross Settlement Holiday, Banks' Closing of Accounts Holiday, and Holidays Under Negotiable Instruments Act. Let's look at the full list of bank holidays for May 2024 below.
The Reserve Bank of India (RBI) releases the bank holiday calendar each month. Customers should use the calendar to help them avoid making unnecessary visit to the bank premises. Due to various religious holidays, including, Eid-ul-Fitr, Ram Navami, Baisakhi, and more banks in India were closed for 14 days in April 2024.
Bank customers should be aware that even though the banks will be physically closed for 10 days in May, they will still be able to access online banking services like UPI, mobile banking, and internet banking.
According to RBI, there may be also some bank holidays in May due to the ongoing Lok Sabha elections that started from 19 April and will conclude on 1 June 2024.
List of Bank Holidays in May 2024 (State-Wise)
Check out the full schedule for bank holidays in May 2024 below.
Wednesday, 1 May 2024: May Day/Labour Day and Maharashtra Day (Several cities of India on the occasion of May Day, and in Mumbai, Nagpur and Belapur on the eve of Maharashtra Day).
Sunday, 5 May 2024: Weekend (All States).
Saturday, 7 May 2024: Phase 3 Lok Sabha Elections (Ahmedabad, Panaji, Bhopal and Raipur).
Wednesday, 8 May 2024: Birth Anniversary of Rabindranath Tagore (West Bengal).
Friday, 10 May 2024: Akshaya Tritiya/ Basava Jayanti (Bengaluru).
Saturday, 11 May 2024: Second Saturday (All States).
Sunday, 12 May 2024: Weekend (All States).
Monday, 13 May 2024: Phase 4 Lok Sabha Elections (Jammu & Kashmir).
Thursday, 16 May 2024: State Day holiday in Sikkim's capital Gangtok.
Sunday, 19 May 2024: Weekend (All States).
Monday, 20 May 2024: Phase 5 Lok Sabha Elections (Mumbai and Belapur).
Thursday, 23 May 2024: Buddha Purnima (Agartala, Aizawl, and other major cities).
Saturday, 25 May 2024: Fourth Saturday (All States); Phase 6 Lok Sabha Elections (Agartala and Bhubaneshwar).
Sunday, 26 May 2024: Weekend (All States).
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