Banks in India will remain shut for at least four days in last ten days of May, which includes weekends and festival. On the occasion of Buddha Purnima on May 26, banks will remain shut at Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar.
According to the Reserve Bank of India (RBI) guidelines, all banks including the public sector, private sector, foreign banks, cooperative banks and regional banks across the country will remain closed on certain occasions which are notified by the country’s central bank under three brackets — the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks’ Closing of Accounts. It must also be noted that the banking holidays depend on festivals being observed in specific states and might vary from state to state.
Amid strict protocol that would need to be adhered in the month of May when the pandemic’s second wave is expected to hit its peak, banks’ body has also asked several states to reduce working hours. Indian Banks’ Association (IBA) has advised banks to restrict working hours between 10 am to 2 pm.
The private and public sector banks across the country remain closed on the second and fourth Saturdays of every month. The banks are also shut on Sundays, according to a notification issued by the Reserve Bank of India.
Considering all the factors, here’s a list of bank holidays for the month of May 2021.
May 22: Fourth Saturday
May 23: Weekly off (Sunday)
May 26: Buddha Purnima – It will be implemented in several states.
May 30: Weekly off (Sunday)
It also recommended checking the bank holiday list regularly for any new updates and also to verify it with the holiday list issued by the Reserve Bank of India on its official website.