Bank holidays in May 2023: Banks Will Be Closed For 12 Days Across States In May, Check Full State-Wise Bank Holiday List

After the list of April 2023 bank holidays, it's time for the fifth month of the new year, and with it comes a new set of bank holidays.?

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. Regional holidays are decided by respective state governments.

The month of May observes 12 bank holidays - the first holiday starts from Maharashtra Day/May Day on May 1 and other holidays like Buddha Purnima on May 05 will be observed holidays which are applicable to all banks in India except some states.

Bank Holidays May 2022 | Photo: AFP

Most Indian banks’ functions are regulated by the Reserve Bank of India, and banking schedules and holidays are also governed by the Reserve Bank of India (RBI) regulations. Public sector banks and private sector banks both are not working on Sundays and on second and fourth Saturdays.

Bank holidays in India come in a variety of flavours -- it's a mix of mandated holidays by the banking sector, plus a whole set of festive and commemorative holidays authorised by various states.

In May 2023, there are only 12 days when many private and public sector banks will remain closed due to bank holidays including weekends. Banks will be shut for 12 days in May 2023 including the 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. Regional holidays are decided by the respective state governments; they are not mentioned on RBI's official website.?

People will not face any problems with bank-related work as holidays are not frequent or are at short intervals; ATMs, cash deposits, online banking and mobile banking will continue to function. These holidays may vary from state to state as holidays are determined keeping in mind the local festivals.

According to RBI guidelines, banks are closed on Sundays as well as on the second and fourth Saturdays of the month. Under the Negotiable Instruments Act, RBI has declared bank holidays on May 1,5, 9, 16, 22 and 24. Apart from this, there are Four Sundays in May falling on May 7,14,21 and 28 also on the second and fourth Saturdays on May 13 and 27.

According to the Reserve Bank's calendar, apart from the weekends, there are 6 bank holidays in May. The central government divided the holidays into three categories, under the Negotiable Instruments Act, of 1881.

Those who have to complete important work related to the bank in May, should see the list of holidays and plan their work in advance.

Check out the state-wise list of bank holidays in May 2023:?

1. May 01, 2023 (Monday) - Maharashtra Day/May Day

Banks remain closed on 01 May 2023 on the occasion of Maharashtra Day/May Day in Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Kerala, West Bengal, Goa, and Bihar.

2. May 05, 2023 (Friday) - Buddha Purnima

Banks will be closed due to Buddha Purnima on 05 May 2023 in Tripura, Mizoram, Maharashtra, West Bengal, Uttarakhand, Madhya Pradesh, Chandigarh, Jammu & Kashmir, Uttar Pradesh, Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh.

3. May 07, 2023 (Sunday) - Weekend Holiday

Banks across the country will be closed on their weekly off on Sunday, 07 May 2023.

4. May 09, 2023 (Tuesday) - Birth Anniversary of Rabindranath Tagore

Banks remain closed on Monday, 09 May 2023 in Bengal on the birth anniversary of Rabindranath Tagore.

5. May 13, 2023 (Second Saturday of the month) - Weekend Bank Holiday

All the banks across the country remain closed on the second Saturday of the month on 13 May 2023.

6. May 14, 2023 (Sunday) - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 14 May 2023.

7. May 16, 2023 (Tuesday) - State Day

Banks remain shut in Sikkim on the occasion of State Day on May 16.

8. May 21, 2023 (Sunday) - Weekend Holiday

Banks across the country will be closed on their weekly off on Sunday, 21 May 2023.

9. May 22, 2023 (Monday) - Maharana Pratap Jayanti

Banks will be closed in Haryana, Punjab, Himachal Pradesh, Gujarat, and Rajasthan on the occasion of Maharana Pratap Jayanti on 22 May.

10. May 24, 2023 (Wednesday) - Kazi Nazrul Islam Jayanti

Banks will be closed in Tripura due to Kazi Nazrul Islam Jayanti on May 24.

11. May 27 (Fourth Saturday of the month) - Weekend Bank Holiday

All the banks in the country remain closed on the fourth Saturday of the month on 27 May 2023.

12. May 28 (Sunday) - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 28 May 2023.

Here is the complete list of Bank Holidays in 2023:

Bank Holidays 2023 in India state-wise:

Bank Holidays 2023 month-wise

As per the RBI rules, there are three categorised holidays and they are as follows:

1. Holiday under the Negotiable Instruments Act

2. Holiday under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday

3. Banks' Closing of Accounts

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