Banks across India will remain closed for up to 12 days in May 2021. The Reserve Bank of India (RBI) has already issued a calendar mentioning the dates the banks will be shut.
In the wake of surging COVID-19 cases in the country, the banks have already shortened working hours and cut staff attendance to 50 per cent.
As per the new guidelines issued by the Indian Banks' Association, bank branches can operate from 10am to 2pm. Usually, both private and public banks remain shut on all national or public holidays, several festivals as well as the second and fourth Saturdays of each month.
In total, the banks will be shut for up to 12 days in May, however, bank holidays in several states may vary from each other, depending on festivals being observed in respective states or notification of certain occasions in those states. Meanwhile, as per the RBI, banks in most states will remain shut on May 14 on account of Eid-Ul-Fitr.
Besides, some banks will also observe holidays on Akshaya Tritiya, Labour Day, Buddha Pournima, Id-Ul-Fitr, and Jumat-ul-Vida.
The RBI puts its holiday list under three brackets - Real Time Gross Settlement Holiday, Holiday under Negotiable Instruments Act, and Banks' Closing of Accounts. The bank holidays are listed by the Central government, state governments, and union territories (UTs) under the Negotiable Instruments Act, 1881.
Below mentioned is the complete list of bank holidays in May 2021: -
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