Bank Holiday 2024 On May 1: Banks Will Be Closed In These States Tomorrow, Check Details Here

Bank HolidayIn India, banks usually shut down on public holidays, including national and state-specific holidays. National holidays like Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2) mean banks observed holidays across the country. Also, festivals such as Diwali, Christmas, Eid, Guru Nanak Jayanthi, Good Friday, and others are considered bank holidays. Additionally, the second and fourth Saturdays and all the Sundays of every month are marked as holidays too. Are you wondering if banks are closed tomorrow, May 1 for Maharashtra Day and May Day? Let's look into the details to find out.

Are Banks closed on May 1?

According to the Reserve Bank's calendar, apart from the weekends, there are nine bank holidays in May 2024 which include Maharashtra Day and May Day, observed on May 1 and banks will be closed in several states such as Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, Bengal, Goa, Bihar. Everyone should plan any important bank-related work, taking into consideration the holiday schedule.

Maharashtra Day

Maharashtra Day, celebrated on May 1st every year, marks the founding of Maharashtra state. The day includes speeches and parades that honour Maharashtra's culture and traditions.

In 1956, the States Reorganisation Act divided Indian states based on languages. Bombay, now Mumbai, had speakers of Marathi, Gujarati, Kutchi, and Konkani. The Sanyukta Maharashtra Samiti campaigned for a separate Marathi-speaking state, while the Mahagujarat Movement pushed for a Gujarati-speaking state. This led to clashes until the Bombay Reorganisation Act brought peace. The Bombay Reorganisation Act of 1960 led to the formation of Maharashtra and Gujarat states on May 1st, coinciding with International Worker's Day.

May Day or Labour Day

Every year on May 1st, we celebrate Labour Day, also known as May Day or International Workers' Day. This day has two main purposes: to remind workers of their rights and to recognise their contributions to society. Labour Day has its origins in the 19th-century United States when workers fought for their rights. On May 1st, 1886, around 200,000 workers went on strike, demanding an eight-hour workday.?

This led to violence in Chicago, known as the Haymarket Affair. A peaceful gathering in Chicago's Haymarket Square turned tragic when a bomb exploded, resulting in casualties among both protestors and police officers. In 1889, the International Socialist Conference declared May 1st as Workers' Day to honour the workers' movement and the Haymarket incident. The first official celebration was held the following year in 1890.

Here's a State-wise List Of Bank Holidays in May 2024:

1. May 1, Wednesday - Maharashtra Din/May Day (Labour Day)

Banks will be closed in Maharashtra, Karnataka, Tamil Nadu, Assam, Telangana, Manipur, Kerala, West Bengal, Goa, Andaman And Nicobar Islands and Bihar.

2. May 5, Sunday: Weekend

Banks will be closed across the country

3. May 7, Tuesday - Lok Sabha General Elections 2024

Banks remain shut in Gujarat, Madhya Pradesh, and Goa.

4. May 8, Wednesday - Birthday of Rabindranath Tagore

Banks observed a holiday in West Bengal

5. May 10, Friday - Basava Jayanti/Akshaya Tritiya

Banks will be shut in Karnataka.

6. May 12, Sunday: Weekend

Banks will be closed across the country

7. May 13, Monday - Lok Sabha General Elections 2024

Banks will be closed in Srinagar

8. May 16, Thursday - State Day

Banks remain closed in Sikkim.

9. May 19, Sunday: Weekend

Banks will be closed across the country

10. May 20, Monday - Lok Sabha General Elections 2024

Banks will be shut in Belapur, Mumbai

11. May 23, Thursday - Buddha Pournima

Banks remain closed across the country except, Gujarat, Karnataka, Tamil Nadu, Sikkim, Assam, Telangana, Manipur, Rajasthan, Kerala, Nagaland, Goa, Bihar, Meghalaya

12. May 25, Saturday - Nazrul Jayanti/Lok Sabha General Elections 2024/Second Saturday

Banks observed holidays across the country due second Saturday

13. May 26, Sunday: Weekend

Banks will be closed across the country

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

Also Read:?Telangana School Summer Vacations 2024: Check Full Schedule Here

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