As per the RBI holiday list, while some holidays are being observed nation-wide, some others are local festivities being celebrated across the country.
New Delhi: The month of May does not have several holidays on the RBI list, but this month has five sundays. Hence the total number of days that the banks will be closed are more of weekends than RBI declared holidays.
As per the RBI holiday list, while some holidays are being observed nation-wide, some others are local festivities being celebrated across the country.
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.
The Reserve Bank of India (RBI) has mentioned some days when the banking operations will remain closed in the month of May 2022, although online banking activities will continue to work.
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Banks will remain closed for total 11 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. However, you must note that the banks will NOT be closed for 11 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 Birthday of Rabindranath Tagore but not closed for the same in other states like Himachal Pradesh or Kerala.
Here is an elaborate list of bank holidays falling in the month of May 2022. Check out the list.
Holiday Description as per RBI
Ramjan-Eid (Eid-UI-Fitra): May 2
Bhagvan Shree Parshuram Jayanti/Ramjan-Eid (Eid-UI-Fitra)/Basava Jayanti/Akshaya Tritiya: May 3
Birthday of Rabindranath Tagore: May 9
Buddha Purnima: May 16
Apart from the above bank holidays, the second and fourth Saturdays, Sundays of the month are falling on the following dates:
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Sunday: 1 May, 8 May, 15 May, 22 May and 29 May
Second Saturday: 14 May
Fourth Saturday: 28 May
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.
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 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.
