According to the Reserve Bank of India’s (RBI) schedule of holidays, bank offices will be closed on certain days in May in a number of Indian cities. While physical branch operations will be suspended, internet banking will still be available.
Therefore, if you want to visit your bank branch for any critical job linked to the bank the next month, you need to make a note of the number of days when branches will be closed in different locations throughout the month of May 2023. This information can be found on the websites of each city.
Some bank holidays will be celebrated all over the country, while others will be marked just in specific areas. As a result of these celebrations, a number of bank offices located in a variety of states will stay closed. You need to make a mental note of the list of significant days in May during which your bank will be closed before you go into any of its branches during that month.
According to the holiday calendar schedule published by the Reserve Bank of India (RBI), banks will be closed on a total of 12 days during the month of May–4. The remaining days are those weekends and state holidays that have been officially announced. You should be aware, however, that the banks WILL NOT be closed for a period of twelve days in any of the states or areas. This is the total number of days that financial institutions throughout the nation will be closed in observance of holidays recognized by their respective states.
For the occasion of Kazi Nazrul Islam Jayanti, for instance, certain bank branches in the state of Tripura may be closed while those in the states of Goa, Bihar, and other states may remain open.
The following is a comprehensive list of the bank holidays that will take place during the month of May in 2023.
Check out the list
- Maharashtra Day/May Day: May 1
- Buddha Purnima: May 5
- The 9th of May is Rabindranath Tagore’s birthday.
- State Day: May 16
- Maharana Pratap Jayanti: May 22
- Kazi Nazrul Islam Jayanti in Tripura: May 24
- Weekends and the second Saturday of the month
- May 7: Sunday
- The second Saturday in May is the 13th.
- May 14: Sunday
- May 21: Sunday
- Fourth Saturday of the month: May 27
- May 28: Sunday
The Reserve Bank of India divides its holidays into three categories: holidays based on the Negotiable Instruments Act, holidays based on the Negotiable Instruments Act and the Real Time Gross Settlement Holiday, and holidays based on when banks close their books. However, it is important to remember that the holidays observed by banks might differ from state to state and that not all financial institutions follow the same schedule. The festivals that are celebrated in certain states and the notice of particular events that occur in those states are other factors that determine when banks are closed for holidays.
However, on the days that have been officially designated as holidays by the government, all of the nation’s financial institutions will be closed. The holidays that have been proclaimed by the state include those that are listed above.