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Bank Holidays in May 2022: Banks to Remain Closed for 11 Days in May; See Full List

By: Business Desk

News18.com

Last Updated: April 29, 2022, 11:17 IST

Bank Holiday in May 2022: It must be mentioned that bank holidays also vary from one state to another

Bank Holiday in May 2022: It must be mentioned that bank holidays also vary from one state to another

Bank Holidays in May 2022: Banks in Kolkata will be closed on May 9 on the occasion of Ranbindranath Tagore's birthday, while there is no bank holiday on the day in other parts of the country.

Bank Holidays in May 2022: The season to welcome the new year as per the Indian calendar is over, and people are ready to welcome the month of May. As a new month commences in a few days, a new set of holidays will be applicable too. This means that there will be a new list of bank holidays in May 2022. The list of bank holidays next month has already been prepared by the Reserve Bank of India, or RBI, which lays out a plan in the beginning of every years as per which lenders get their yearly leaves. On the bank holidays notified by the RBI, branches of all public sector, private sector, foreign banks, cooperative banks and regional banks remain shut.

Banks across all private and public sectors in India will remain closed for up to 11 days in May, as per the list prepared by the RBI. The holidays come into effect under three categories, including ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’ and ‘Banks’ Closing of Accounts’. One holiday is effective on account of ‘Banks’ Closing of Accounts’ on April 1 when a majority of banks across the country remain closed, while ‘Holiday under Negotiable Instruments Act’ categorisation sees the highest number of holidays.

There are four holidays this month under the Holidays Under Negotiable Instruments Act, while the remaining seven are weekend leaves. However, it must be noted that bank holiday comes into effect, in most cases, according to the region one particular branch is located in. This means that most bank holidays are region specific. This holds true for the bank holidays in May.

For example, banks in Kolkata will be closed on May 9 on the occasion of Ranbindranath Tagore’s birthday, while there is no bank holiday on the day in other parts of the country. Meanwhile, there is a bank holiday in Kochi and Thiruvanathapuram to observe Eid-UI-Fitra on May 2. On the other hand, there is a bank holiday across the country on May 3, except these two areas, to observe Bhagvan Shree Parshuram Jayanti, Ramjan-Eid (Eid-UI-Fitra), Basava Jayanti, and Akshaya Tritiya. One should also keep in mind that there is another bank holiday across all bank branches in Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar, on the occasion of Buddh Purnima on May 16.

Here’s the Full List of Bank Holidays in May 2022 (Starting From May 1, 2022)

List of Leaves as per the Holiday Under Negotiable Instruments Act

May 2: Ramjan-Eid (Eid-UI-Fitra) — Kochi and Thiruvananthapuram

May 3: Bhagvan Shree Parshuram Jayanti/ Ramjan-Eid (Eid-UI-Fitra)/ Basava Jayanti/ Akshaya Tritiya — All over India except Kochi and Thiruvananthapuram

May 9: Birthday of Rabindranath Tagore — Kolkata

May 16: Buddha Purnima — Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar

List of Weekend Leaves

May 1: Sunday

May 8: Sunday

May 14: Second Saturday

May 15: Sunday

May 22: Sunday

May 28: Fourth Saturday

May 29: Sunday

Thus, if you have any bank related work, you must contact your local branch to confirm the bank holidays in May as per your region to avoid any hassle.

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first published:April 29, 2022, 11:17 IST
last updated:April 29, 2022, 11:17 IST