New Delhi: According to the holiday list of the Reserve Bank of India (RBI), bank branches will remain closed on certain days in the month of May in many cities of the country. Although branches will remain closed for physical operations, online banking activities will continue to function.
So, if you want to visit your bank branch for important work related to any bank in the next month, you must note down the number of days that the branches are closed in different cities in the month of May 2023.
While some bank holidays will be observed across the country, others will be local holidays. Many bank branches will remain closed in various states due to these festivities. Before visiting your bank branch in the month of May, you must note down the list of important days during which banks will remain closed.
According to the Reserve Bank of India’s (RBI) holiday calendar list, banks will be closed for a total of 12 days in the month of May- 4 and the remaining days are weekends and state-declared holidays. However, you should note that banks will not close For 12 days in all states or territories. This is the total number of days when banks in different parts of the country will remain closed for the holidays observed by the state.
For example bank branches may be closed for Kazi Nazrul Islam Jayanti in Tripura but not in Goa, Bihar or other states.
Here is a comprehensive list of bank holidays falling in May 2023. See the list.
Maharashtra Day/May Day: 1 May
Buddha Purnima: May 5
Rabindranath Tagore’s birthday: 9 May
Statehood Day: 16 May
Maharana Pratap Jayanti: May 22
Kazi Nazrul Islam birth anniversary in Tripura: May 24
weekend and second saturday
May 7: Sunday
May 13: Second Saturday
May 14: Sunday
May 21: Sunday
May 27: Fourth Saturday
May 28: Sunday
The Reserve Bank of India has grouped its holidays under three brackets – Holidays under the Negotiable Instruments Act; holiday and real time gross settlement holiday under the Negotiable Instruments Act; and closure of accounts by banks. However, it should be noted that bank holidays differ from state to state and are not observed by all banking companies. Banking holidays also depend on the festivals being celebrated in specific states or the notification of specific occasions in those states.
The holidays on the mentioned days in different regions will be observed as per the holidays declared by the state, however banks will remain closed all over the country for gazetted holidays.