Bank Holiday Alert: Due to local festivals and other occasions, banks will remain closed in most parts of the country on May 13 and 14. These holidays have been declared by the RBI under the Negotiable Instruments Act. Notably, the bank holidays are not observed in all the states and they vary as per the specific state. Only gazetted holidays are observed by banks all over the country. Also Read - Bank Holiday Alert: Banks To Remain Closed For 3 Days In The Coming Week | Full List Here
Banks to remain closed on May 13: Ramzan-Id (Id-Ul-Fitr) (Shawal-1).cBecause of the occasion, the banks will remain closed in Belapur, Jammu, Kochi, Mumbai, Nagpur, Srinagar and Thiruvananthapuram. Also Read - Good Time For Buyers as Home Loan Interest Rates to Remain at All-Time Low | Details Here
Banks to remain closed on May 14: Bhagvan Shree Parshuram Jayanti/Ramjan-Eid (Eid-UI-Fitra)/Basava Jayanti/Akshaya Tritiya. Because of this occasion, the banks will remain closed in Agartala, Ahmedabad, Aizawl, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Guwahati, Hyderabad, Imphal, Jaipur, Jammu, Kanpur, Kolkata, Licknow, New Delhi, Panaji, Patna, Raipur, Ranchi, Shillong and Shimla. Also Read - RBI To Announce Monetary Policy Committee’s Decision Today, Repo Rate Likely To Be Unchanged
Apart from these holidays, the banks will also remain closed on other days such as:
16 May: Sunday
22 May: Fourth Saturday
23 May: Sunday
26 May: Buddha Pournima
30 May: Sunday
As per the guidelines from the RBI, the holidays are places under three brackets- Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts.
Bank branch operations for customers will remain completely shut on these holidays. For the month of May, the banks were to remain closed for a total of 12 days, as per the holiday list by RBI. As a few holidays have already passed, only eight days are ahead on which banks will remain closed.
Customers who are planning a visit to their respective bank branches in the month of May are advised to plan their visit in accordance with the bank holidays. Customers also need to note that even though the bank branches will remain closed on these days, mobile and internet banking will remain functional as usual.