Banks in several parts of India will remain shut today on account of Buddha Purnima. Bank holidays are declared under Negotiable Instruments Act by the Reserve Bank of India (RBI).
According to the 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.
BANKS TO REMAIN SHUT IN THESE CITIES ON MAY 26:
- New Delhi