Bank holidays 2024: No bank operations on these days in May
Banks will be closed on nine days excluding the weekends in May. According to the Reserve Bank of India, there will be bank holidays due to voting for the ongoing Lok Sabha elections that began on April 19 and the second phase was held on April 26.
Here’s a list of bank holidays for May 2024:-
May 1: Bank operations will remain suspended in major cities due to May Day. Also, Mumbai, Nagpur and Belapur are observing bank holiday on account of Maharashtra Day.
May 7: On this day, there will be bank holidays in Ahmedabad, Panaji, Bhopal and Raipur due to voting for the Lok Sabha elections.
May 8: Banks in Kolkata will remain shut due to Rabindranath Tagore birth anniversary.
May 10: Bengaluru will observe bank holiday on this day due to Basava Jayanti.
May 13: Banks will remain closed in Srinagar on this day due to Lok Sabha elections.
May 16: Sikkim’s capital Gangtok will observe bank holiday due to State Day celebrations.
May 20: Mumbai and Belapur will have a bank holiday because of polling for Lok Sabha elections.
May 23: Banks will be closed in major cities due to Buddha Purnima.
May 25: Banks will be closed in Agartala and Bhubaneshwar because of the Lok Sabha elections.
Besides these, the banks are closed on second and fourth Saturday, as well as on all four Sundays.
Bank holidays are classified into three categories:- Holiday under Negotiable Instruments Act, Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday, Banks’ Closing of Accounts.
The Lok Sabha elections are being held in seven phases, the first two held on April 19 and 26. The remaining phases will be held on May 7, 13, 20, 25 and June 1. The counting of votes will be held on June 4.
