Bank Holidays in May 2024: Banks will remain closed for up to 14 days, check details

If you have any banking related work coming up in May 2024, then you must plan for at least 14 non-banking days this month including weekends and holidays.

According to the Reserve Bank of India (RBI) holiday calendar, banks will be closed for up to 14 days, including Sundays, the second and fourth Saturdays, and additional regional holidays.

National bank holidays in May 2024

The national bank holidays include the following:

• Second Saturday: May 11
• Fourth Saturday: May 25
• Sundays: May 5, 12, 19, and 26

Regional bank holidays

In addition to the national holidays, some states have additional bank holidays to celebrate regional festivals or important events. Here’s a list of additional holidays in May 2024:

• May 1 (Wednesday): Maharashtra Day and Labor Day (Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, West Bengal, Goa, Bihar)
• May 7 (Tuesday): Lok Sabha General Elections 2024 (Gujarat, Madhya Pradesh, Goa)
• May 8 (Wednesday): Birthday of Rabindranath Tagore (West Bengal)
• May 10 (Friday): Basava Jayanti/Akshaya Tritiya (Karnataka)
• May 13 (Monday): Lok Sabha General Elections 2024 (Srinagar)
• May 16 (Thursday): State Day (Sikkim)
• May 20 (Monday): Lok Sabha General Elections 2024 (Maharashtra)
• May 23 (Thursday): Buddha Purnima (Tripura, Mizoram, Madhya Pradesh, Chandigarh, Uttar Pradesh, Arunachal Pradesh, Jammu, Bengal, New Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh, Srinagar)
• May 25 (Saturday): Nazrul Jayanti/Lok Sabha General Elections 2024 (Tripura, Orissa)

Bank holiday categories

According to the RBI, bank holidays fall under three main categories:
1. Holiday under the Negotiable Instruments Act
2. Holiday under the Negotiable Instruments Act and Real Time Gross Settlement Holiday
3. Banks’ Closing of Accounts

Plan Your Banking Requirements

Bank holidays can impact financial transactions and services. To avoid inconvenience, check with your local bank branch for any additional closures specific to your region. Remember that bank holidays in India are determined by the RBI and state governments, and can vary based on local customs.

These bank holidays are for physical banking visits. However, most of the banking related services are now available through internet banking and mobile banking round the clock. Customers can make use of these services on bank holidays. For important banking transactions, it is always advisable to re-confirm with your bank to be doubly sure.