As we step into the month of May, it brings along with it a string of bank holidays, with 14 days marked off on the calendar. Particularly, on May 10th, as Akshaya Tritiya is celebrated, many banks are set to remain closed. The Reserve Bank of India (RBI) has already released a list detailing these holidays.
Significance of Bank Holiday on Akshaya Tritiya
Akshaya Tritiya, also known as Akha Teej, holds special significance in Hindu culture. It is considered an auspicious day for buying gold and silver. On this occasion, several banks across both the private and public sectors will remain closed. The RBI has issued a list of holidays, indicating that only a few banks will remain open in some states on Friday. However, following this, banks across the country will be closed for two consecutive days.
Continuous Closure in Some States
According to the holiday list issued by the Reserve Bank of India, all banks in Bangalore will remain closed on Akshaya Tritiya. Given that May 11th falls on a Saturday, banks nationwide will observe a holiday. Furthermore, due to Sunday falling on May 12th, banks in Bangalore and other cities across the country will remain closed. However, online services and ATM cash withdrawal services will continue uninterrupted.
Bank Closure Beyond May 12th
Following Akshaya Tritiya, banks in several cities, including Agartala, Belapur, Bhopal, Dehradun, Aizawl, Kolkata, Lucknow, New Delhi, and Mumbai, will observe holidays on April 23rd, which coincides with Buddha Purnima. Additionally, on May 16th, banks in Gangtok will remain closed. May 19th being a Sunday will also result in bank closures. On May 20th, banks in Mumbai and Belapur will observe a holiday.
Other Holidays in May
Apart from Akshaya Tritiya, there are several other holidays throughout the month. May 1st is observed as Labour Day, May 7th due to the Lok Sabha elections, May 8th as Rabindranath Tagore Jayanti, May 13th again because of the Lok Sabha elections, May 16th as State Day, May 20th due to the Lok Sabha elections, and May 23rd is Buddha Purnima/Nazrul Jayanti/Lok Sabha elections. May 25th is also marked as a holiday due to the Lok Sabha elections.
As the month of May unfolds, it brings a multitude of holidays, especially impacting bank operations. It’s essential for individuals to plan their financial transactions accordingly, ensuring that essential tasks are attended to before the holidays.