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Bank holidays May 2024: Bank customers should be prepared for several non-working days in May 2024 because of religious holidays, Lok Sabha Elections and weekend closures. According to the Reserve Bank of India holiday calendar schedule, the banks in the month of May will be for up to 14 days, which includes Sundays and the second and fourth Saturdays.
The holiday schedule for banks is typically determined by the RBI in coordination with state governments. Additionally, regional holidays may vary based on the customs and traditions of individual states. Furthermore, the ongoing Lok Sabha elections in 2024 may also impact the holiday schedule for banks in certain states.
Are banks closed on May 1?
As per the RBI, the banks will be closed in some states due to Labour Day and Maharashtra Day on May 1.
Maharashtra Day is observed as a state holiday in Maharashtra, on May 1 to commemorate the creation of the state. Additionally, International Labour Day, also known as May Day or Labour Day, celebrates workers and is sponsored by the International Labour Movement. So the banks will be closed in Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, Maharashtra, Karnataka, West Bengal, Goa, and Bihar on Wednesday.
Check complete list of bank holidays in May 2024:
Date
Reason
Holiday in States
May 1
May Day/Labour Day and Maharashtra Day
Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, West Bengal, Goa, Bihar
May 5
Sunday
Nationwide
May 7
Lok Sabha Elections Phase 3
Gujarat, Madhya Pradesh, Goa, Chhattisgarh
May 8
Birth Anniversary of Rabindranath Tagore
West Bengal
May 10
Basava Jayanti/Akshaya Tritiya
Karnataka
May 11
Saturday
Nationwide
May 12
Sunday
Nationwide
May 13
Lok Sabha Elections Phase 4
Jammu and Kashmir
May 16
State Day
Sikkim
May 19
Sunday
Nationwide
May 20
Lok Sabha Elections Phase 5
Maharashtra
May 23
Buddha Purnima
Tripura, Mizoram, Maharashtra, Madhya Pradesh, Chandigarh, Uttarakhand, Arunachal Pradesh, Jammu and Kashmir, Uttar Pradesh, West Bengal, New Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh
May 25
Lok Sabha Elections Phase 6/Nazrul Jayanti
Tripura, Odisha
May 26
Sunday
Nationwide
According to the Reserve Bank of India, there are three types of bank holidays in the country: Holidays under the Negotiable Instruments Act, holidays under the Negotiable Instruments Act Real Time Gross Settlement Holidays, and Banks’ Closing of Accounts. Notably, Regional bank holidays can vary from state to state and bank to bank in the country.
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