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Banks in several parts of India will remain shut on Thursday and Friday due to various festivals as these 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.
On May 13, banks will remain shut in Belapur, Jammu, Kochi, Mumbai, Nagpur, Srinagar and Thiruvananthapuram on account of Ramzan-Id or Eid Ul Fitr (Shawal 1).
On May 14, banks will remain shut in Agartala, Ahmedabad, Aizawl, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Guwahati, Hyderabad, Imphal, Jaipur, Kanpur, Kolkata, Lucknow, New Delhi, Panaji, Patna, Raipur, Ranchi, Shillong, and Shimla on account of Bhagvan Shree Parshuram Jayanti, Ramjan-Eid (Eid UI Fitr, Basava Jayanti and Akshaya Tritiya.
It must also be noted that the banking holidays depend on festivals being observed in specific states and might vary from state to state.
HERE’S A LIST OF BANK HOLIDAYS IN MAY 2021:
May 13: Ramzan-Id (Eid-Ul-Fitr) – This will be a national holiday across the country.
May 14: Bhagvan Shree Parshuram Jayanti /Basava Jayanti/Akshaya Tritiya – Banks in the national capital, Chennai and Kolkata among other cities will remain closed.
May 26: Buddha Purnima – It will be implemented in several states.
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.
May 16: Weekly off (Sunday)
May 22: Fourth Saturday
May 23: Weekly off (Sunday)
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.
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