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.
In addition to national holidays, each state or region has its own list of holidays, which can vary from one state to another. For example, some states may observe holidays for regional festivals or important cultural events.
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.
Bank customers should be aware of the bank holidays in May 2023 in order to make arrangements for their bank visits.
Banks are open on the first and third Saturdays of each month, whereas the second and fourth Saturdays are holidays for bankers.
Banks are usually closed on these holidays, and customers are advised to plan their banking transactions accordingly.
However, some banks may have certain branches open on specific holidays for urgent transactions, such as foreign exchange services.
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
Bank customers will not face any problems with bank-related work such as ATM services, cash deposit machines, online and mobile banking.