In this COVID-19 period, if you have any work related to the bank, then this news is very important for you. Like every month, banks will be shut on a few special occasions for the remaining month of May, according to the holidays mentioned by the Reserve Bank of India (RBI). Banking operations for customers remain completely shut on these holidays.
Every year, the Reserve Bank of India (RBI) holiday calendar states that all banks across the country will remain closed on certain occasions. Customers planning a visit to their respective bank branch are advised to plan their visit in accordance with the bank holidays.
Banks were to remain closed for a total of 12 days in May, as per the holiday list by RBI. However, as few holidays have already passed, only eight days are ahead on which banks will remain closed.
These holidays will be taken in a majority of Indian states, barring a few ones, according to the state-declared holidays. However, for the gazetted holidays, banks will be closed all over the country.
Here it is noteworthy to mention that all online bank services — including ATMs, mobile banking and online banking services — will stay available for the customers during the above-mentioned holidays. However, all other banking services will stay unavailable for the customers.
Aside from the above-mentioned bank holidays, banking operations will remain shut on 22 May due to the fourth Saturday. Also, three Sunday holidays of banks are remaining in the month of May, which will fall on 16, 23 and 30 May.
The RBI puts its holiday list under three brackets – Real Time Gross Settlement Holiday, Holiday under Negotiable Instruments Act, and Banks’ Closing of Accounts. The bank holidays are listed by the Central government, state governments, and union territories (UTs) under the Negotiable Instruments Act, 1881.
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