Banks will remain closed for total 12 days in the month of May, as per the Reserve Bank of India (RBI) holiday calendar list, although banking activities in different states may vary from each other.
Reserve Bank of India places its Holidays under three brackets –Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks’ Closing of Accounts.
However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.
Here is an elaborate list of bank holidays falling in the month of May 2021. Check out the list.
Maharashtra Din/May Day (Labour Day): May 1
Jumat-ul-Vida: May 7
Ramzan-Id (Id-Ul-Fitr) (Shawal-1): May 13
Bhagvan Shree Parshuram Jayanti/Ramjan-Eid (Eid-UI-Fitra)/Basava Jayanti/Akshaya Tritiya: May 14
Buddha Pournima: May 26
Apart from the above bank holidays, the second and fourth Saturdays of the month are falling on 8 and 22 May. There will be no work in banks on this day. Also, there are Sunday holidays on 2, 9, 16, 23 and 30 May.
Holidays of the mentioned days will be observed in various regions according to the state declared holidays, however for the gazetted holidays, banks will be closed all over the country.
If you keep a track of these holidays, you would be able to plan bank transaction activities in a better way. For long weekends, you can even plan your holidays well.