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Banks in India will remain shut for up to 12 days in May 2021, which includes weekends and festivals, due to various occasions. According to the Reserve Bank of India (RBI) guidelines, all banks including the public sector, private sector, foreign banks, cooperative banks and regional banks across the country will remain closed on certain occasions which are notified by the country’s central bank under three brackets — the Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks’ Closing of Accounts.
Amid strict protocol that would need to be adhered in the month of May when the pandemic’s second wave is expected to hit its peak, banks’ body has also asked several states to reduce working hours.
It must also be noted that the banking holidays depend on festivals being observed in specific states and might vary from state to state. Considering all the factors, here’s a list of bank holidays for the month of May 2021.
May 1: Maharashtra Day and Labour day – This day, banks of Kolkata, Kochi, Mumbai, Nagpur, Panaji among others shall be shut.
May 7: Jumat Ul vida –Banks in Jammu and Kashmir will remain closed.
May 13: Ramzan-Id (Eid-Ul-Fitr) – This will be a national holiday across the country.
May 14: Bhagvan Shree Parshuram Jayanti /Basava Jayanti/Akshaya Tritiya – Banks in the national capital, Chennai and Kolkata among other cities will remain closed.
May 26: Buddha Purnima – It will be implemented in several states.
Other than the above mentioned list, here’s the weekend bank holidays in May 2021:
May 2: Weekly off (Sunday)
May 8: Second Saturday
May 9: Weekly off (Sunday)
May 16: Weekly off (Sunday)
May 22: Fourth Saturday
May 23: Weekly off (Sunday)
May 30: Weekly off (Sunday)
It also recommended checking the bank holiday list regularly for any new updates and also to verify it with the holiday list issued by the Reserve Bank of India on its official website.
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