Bank Holidays in May 2022: Banks of all public and private sectors will remain closed in most parts of India on May 3, Tuesday, as there is a bank holiday today on the occasion of Eid and Akshaya Tritiya. There are 11 bank holidays in May in total, out of which two have been already used up. The bank holiday today will mean that there will be eight leaves left for the month for lenders. The RBI, or Reserve Bank of India, has prepared a list of bank holidays for the month of May, as it does for every other month. On the bank holidays notified by the RBI, branches of all public sector, private sector, foreign banks, cooperative banks and regional banks remain shut.
The bank holidays come into effect under three categories, including ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’ and ‘Banks’ Closing of Accounts’. One holiday is effective on account of ‘Banks’ Closing of Accounts’ on April 1 when a majority of banks across the country remain closed, while ‘Holiday under Negotiable Instruments Act’ categorization sees the highest number of holidays.
This makes us wonder — is today a bank holiday in Delhi, Mumbai and other major cities? Banks will remain closed in all across India except Kochi and Thiruvananthapuram today on the account of Bhagvan Shree Parshuram Jayanti/ Ramjan-Eid (Eid-UI-Fitra)/ Basava Jayanti/ Akshaya Tritiya, according to the RBI list. There is no bank holiday in these two areas because here, lenders were closed on May 2 due to Ramjan Eid.
It must also be noted that bank holidays vary from region to region, depending on the occasion in each area as most bank holidays come into effect under the Negotiable Instruments Act. For example, banks in Kolkata will be closed on May 9 on the occasion of Ranbindranath Tagore’s birthday, while there is no bank holiday on the day in other parts of the country.
There are four holidays this month under the Holidays Under Negotiable Instruments Act, while the remaining seven are weekend leaves.
Here’s the Full List of Bank Holidays in May 2022 (Starting From May 1, 2022)
List of Leaves as per the Holiday Under Negotiable Instruments Act
May 2: Ramjan-Eid (Eid-UI-Fitra) — Kochi and Thiruvananthapuram
May 3: Bhagvan Shree Parshuram Jayanti/ Ramjan-Eid (Eid-UI-Fitra)/ Basava Jayanti/ Akshaya Tritiya — All over India except Kochi and Thiruvananthapuram
May 9: Birthday of Rabindranath Tagore — Kolkata
May 16: Buddha Purnima — Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar
List of Weekend Leaves
May 1: Sunday
May 8: Sunday
May 14: second saturday
May 15: Sunday
May 22: Sunday
May 28: Fourth Saturday
May 29: Sunday
Thus, if you have any bank related work, you must contact your local branch to confirm the bank holidays in May as per your region to avoid any hassle.
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