Are Banks Closed On May 1: The Reserve Bank of India (RBI) holiday list notes that on May 1, 2024, banks will be closed in some states in observance of Maharashtra Day and May Day. May 1 is celebrated as Maharashtra Day in honour of the formation of Maharashtra in India. It marks the anniversary of the day in 1960 when the state was officially formed after reorganising states on linguistic lines.
The holiday schedule for banks is determined by the Reserve Bank of India (RBI) in conjunction with state governments, in addition to regional holidays which may differ based on the customs of individual states and account of the ongoing Lok Sabha elections 2024.
Bank customers should be prepared for approximately 10 non-working days at their banks in May 2024 because of religious holidays and weekend closures, as national banks will observe 13 non-working days, including the second and fourth Saturdays and Sundays off.
Labour Day May 1
May 1 is also observed as Labour Day, a day to honour the contributions of workers and the labour movement. It is a day to recognize the rights and achievements of workers, as well as to highlight the ongoing struggles for fair wages, better working conditions, and social justice.
Bank Holiday on May 1
Yes, in many countries, including India, banks are typically closed on May 1st, which is called Labour Day or International Workers’ Day. Banks are closed in Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, Bengal, Goa, and Bihar.
Other bank holidays in May 2024
May 4: Sunday
May 8: Banks in West Bengal will be closed
May 10: Banks will be closed because of the Akshaya Tritiya festival.
May 11: Second Saturday
May 12: Sunday
May 18: Sunday
May 23: On the occasion of Buddha Purnima banks will remain closed.
May 25: Fourth Saturday
May 26: Sunday
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