Bank Holidays: Are banks closed on May 1? Check here
Bank Holiday on May 1: Every year, May 1 i.e. the first day of the month of May is celebrated as ‘International Labour Day’ to celebrate labourers and the working classes. The day is dedicated to the labourers and workers.. Rooted in the historic struggles of labour movements, this day serves as a poignant reminder of the ongoing fight for workers’ rights, fair wages, and improved working conditions.
Marking the second significant occasion, May 1 is also celebrated as Maharashtra Day, commonly known as Maharashtra Diwas, is celebrated to mark the bifurcation of “Bombay” state on a linguistic basis into two states: Gujarat and Maharashtra.
It commemorates the formation of the state of Maharashtra on May 1, 1960. On this day, various events and ceremonies are held across the state to honor its rich cultural heritage, history, and achievements.
Therefore, marking the two significant days, the Reserve Bank of India (RBI) has announced May 1 as a bank holiday under the Negotiable Instruments Act.
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List of banks closed on May 1
As per the Reserve Bank of India (RBI), banks in 11 states will remain closed on May 1. These includes:
- Maharashtra
- Karnataka
- Tamil Nadu
- Assam
- Andhra Pradesh
- Telangana
- Manipur
- Kerala
- Bengal
- Goa
- Bihar
Other Bank Holidays in May
May 5 (Sunday): Weekend – Banks closed nationwide.
May 7 (Tuesday): Lok Sabha General Elections 2024 – Bank closures in Ahmedabad, Bhopal, Panaji, Raipur.
May 8 (Wednesday): Birthday of Rabindranath Tagore – Bank closures in Kolkata.
May 10 (Friday): Basava Jayanti/Akshaya Tritiya – Bank closures in Bengaluru.
May 12 (Sunday): Weekend – Banks closed nationwide.
May 13 (Monday): Lok Sabha General Elections 2024 – Bank closures in Srinagar.
May 16 (Thursday): State Day – Bank closures in Gangtok.
May 19 (Sunday): Weekend – Banks closed nationwide.
May 20 (Monday): Lok Sabha General Elections 2024 – Bank closures in Belapur and Lucknow.
May 23 (Thursday): Buddha Poornima – Bank closures in Agartala, Aizawl, Belapur, Bhopal, Chandigarh, Dehradun, Itanagar, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar.
May 25 (Saturday): Nazrul Jayanti/Lok Sabha General Elections 2024 – Bank closures in Agartala and Bhubaneswar.
May 26 (Sunday): Weekend – Banks closed nationwide.
Online Banking Services to continue
On the above-mentioned holidays, although the banks will be closed, the online banking services will be active which will allow customers to access their bank accounts and perform various transactions at any time, day or night, from virtually anywhere with an internet connection.