New Delhi: Every year, the Reserve Bank of India (RBI) releases a holiday calendar that specifies which particular dates banks across the country stay closed.
Banks will be closed for four consecutive days at the start of the month in May, according to the RBI holiday calendar.
These holidays may also differ from state to state because they are based on state-specific celebrations.
The Reserve Bank of India (RBI) determines bank holidays in four categories: Negotiable Instruments Act, Holidays, Real-Time Gross Settlement Holiday, and Banks’ Closing of Accounts, according to a report.
Apart from national holidays, there are certain state-specific holidays, which include all Sundays as well as the second and fourth Saturdays of the month.
Bank Holidays in May 2022: Full list
May 1 (Sunday): May Day – Across the country/ Maharashtra Day – Maharashtra
May 2 (Monday): Maharshi Parasuram Jayanti – Several states
May 3 (Tuesday): Idul Fitr, Basava Jayanti (Karnataka)
May 4 (Wednesday): Idul Fitr – Telangana
May 9 (Monday): Guru Rabindranath Jayanti – West Bengal and Tripura
May 13 (Thursday): Idul Fitr – National
May 14 (Saturday): Second Saturday Bank Holiday
May 16 (Monday): State Day, Buddha Purnima – Sikkim and other states
May 24 (Tuesday): Birthday of Kazi Nazrul Islam – Sikkim
May 28 (Saturday): Fourth Saturday Bank Holiday
Apart from national holidays and weekend leaves, bank holidays are implemented based on regional events.
Banks in India, however, stay closed on national holidays such as Independence Day. According to the RBI’s list, banks are also closed on Sundays and the second and fourth Saturdays of each month.