Business News

Bank Holidays May 2023: Banks to be Shut for 12 Days In May; Check Full List Here

April 25, 2023
Bharat Times

Last Updated: April 25, 2023, 3:37 PM IST

Banks will be shut for 12 days in May 2023

Banks will be shut for 12 days in May 2023 including second and fourth Saturdays and Sundays

Bank Holidays May 2023: Banks will be shut for 12 days in May 2023 including second and fourth Saturdays and Sundays. As per the Reserve Bank of India (RBI) guidelines, banks will be closed on all public holidays with some regional holidays depending on the particular state. Regional holidays are decided by respective state governments.

The holidays come into effect under three categories, including ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’ and ‘Banks’ Closing of Accounts’. One holiday is effective on account of ‘Banks’ Closing of Accounts’ on April 1 when a majority of banks across the country remain closed, while ‘Holiday under Negotiable Instruments Act’ categorisation sees the highest number of holidays.

There are four holidays under Negotiable Act in My, out of which three have already been exhausted. The remining one holiday will be used up on Monday, after which every bank holiday will be a weekend leave. It must be noted in this regard that bank holiday comes into effect, in most cases, according to the region one particular branch is located in. This means that most bank holidays are region specific.

Full List of Bank Holidays in May 2023

  • May 1 (Monday): May Day, Maharashtra Day
  • May 5 (Friday): Buddha Purnima – Delhi, Haryana, Maharashtra, Punjab, Uttar Pradesh, West Bengal, Uttarakhand, Assam, Bihar, Gujarat, Arunachal Pradesh, Chhattisgarh
  • May 7: Sunday
  • May 9 (Tuesday): Rabindranath Tagore’s birthday
  • May 13: Second Saturday
  • May 14: Sunday
  • May 16 (Tuesday): State Day – Sikkim
  • May 21: Sunday
  • May 22 (Monday): Maharana Pratap Jayanti – Gujarat, Haryana, Himachal Pradesh, Punjab, Rajasthan
  • May 24 (Wednesday): Kazi Nazrul Islam Jayanti – Tripura
  • May 27: Fourth Saturday
  • May 28: Sunday
If you are a Sikkim resident, you can you can enjoy a long weekend of four days from May 13 to May 16 if you take leave on May 15. Banks will remain closed on May 13 (second Saturday), May 14 (Sunday) and May 16 for Sikkim Day.
People will not face any problems with bank-related work as holidays are not frequent or are at short intervals; ATMs, cash deposits, online banking and mobile banking will continue to function. These holidays may vary from state to state as holidays are determined keeping in mind the local festivals.

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Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. Among other things, financial market, economy and policies interest her …Read More