New Delhi: Bank branches will remain closed during certain days in the month of May in several cities of the country as per the Reserve Bank of India (RBI) Holiday list. Though branches will be closed for physical operations, online banking activities will continue to work.
Hence, if you want to visit your bank branch for any bank related important work next month, you must note down the number of days when branches will be closed in various cities in the month of May 2023.
While some bank holidays will be observed nation-wide, some others will be local holidays. Several bank branches will remain closed in various states owing 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.
Banks will remain closed for total 12 days in the month of May– 4 as per the Reserve Bank of India (RBI) holiday calendar list and the remaining days are that of weekends and state declared holiday. However, you must note that the banks will NOT be closed for 12 days in all states or regions. This is the total number of days when banks in different parts of the country will remain closed for state-observed holidays.
For example bank branches might be closed for Kazi Nazrul Islam Jayanti in Tripura but not closed for the same in Goa, Bihar or other states.
Here is an elaborate list of bank holidays falling in the month of May 2023. Check out the list.
Maharashtra Day/May Day: May 1
Buddha Purnima: May 5
Birthday of Rabindranath Tagore: May 9
State Day: May 16
Maharana Pratap Jayanti: May 22
Kazi Nazrul Islam Jayanti in Tripura: May 24
Weekends and Second Saturdays
May 7: Sunday
May 13: Second Saturday
May 14: Sunday
May 21: Sunday
May 27: Fourth Saturday
May 28: Sunday
Reserve Bank of India places its Holidays under three brackets — Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks’ Closing of Accounts. However, it must be noted that the bank holidays vary in various states as well as not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.
Holidays of the mentioned days will be observed in various regions according to the state declared holidays, however for the gazetted holidays, banks will be closed all over the country.