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Bank Holidays in May: Bank branches to remain shut for 3 consecutive days
Check the complete list of bank holidays in May 2022 inside.
Highlights
- The RBI places bank holidays under 3 categories.
- Holidays on which banks are shut in select areas of India are categorised by the RBI under the Negotiable Instruments Act.
New Delhi: Bank branches in India will remain closed for three days in a row from Saturday, May 13, 2022. However, bank customers must note that not all bank branches will be closed in all Indian states, meaning that the three consecutive bank holidays will be witnessed only in select parts of the country. Bank customers should take note of important bank holidays before stepping out of their homes to visit a nearby bank branch for completing some important financial work. But the good news is that even if the bank branches are closed in your area, you can complete the important banking work using internet banking services.
The Reserve Bank of India (RBI) places bank holidays under the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts. The central bank guidelines direct all public and private sector banks, foreign banks, cooperative banks, and regional banks to shut their branches on holiday dates.
Banks across the country are only closed on days such as Republic Day (January 26), Independence Day (August 15), Gandhi Jayanti (October 2), and Christmas Day (December 25), among others. Also Read: Updating Aadhaar details via mAadhaar app? Here's how much it may cost
Holidays on which banks are shut in select areas of India while remaining open in other areas are categorised by the RBI under the Negotiable Instruments Act. In May 2022, in total, there are four holidays falling under the Act. Whereas, May 2022 will witness seven-weekend leaves in total. Also Read: India needs to manufacture textiles machinery to become self-reliant: Darshana Jardosh
3 Consecutive Bank Holidays in May 2022:
May 14, 2022: Saturday
May 15, 2022: Sunday
List of bank holidays in the remaining May 2022
May 14, 2022: Saturday
May 15, 2022: Sunday
May 16, 2022 (Monday): Buddha Purnima [Banks will remain closed in Tripura, Belapur, Madhya Pradesh, Punjab and Haryana, Uttarakhand, Jammu, Uttar Pradesh, Maharashtra, New Delhi Chhattisgarh, Jharkhand, Himachal Pradesh, and Srinagar]
May 22, 2022: Sunday
May 28, 2022: Saturday
May 29, 2022: Sunday