Bank Holidays in May 2022: Lenders across all private and public sectors in India are set to remain closed in some parts of the country today, May 2, on the occasion of Ramjan Eid. A new set of bank holidays has come into effect from May 1 as the new month began and as a result, banks in Kochi and Thiruvananthapuram will be closed on Monday. The RBI, or Reserve Bank of India, has prepared a list of bank holidays for the month of May, as it does for every other month. On the bank holidays notified by the RBI, branches of all public sector, private sector, foreign banks, cooperative banks and regional banks remain shut.
There are as many as 11 bank holidays in the month of May, where lenders across private and public sectors will remain shut for its customers, according to the holiday list notified by the RBI. The bank holidays come into effect under three categories, including ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’ and ‘Banks’ Closing of Accounts’. It must be noted that ‘Holiday under Negotiable Instruments Act’ categorisation sees the highest number of bank holidays.
However, there are only four bank holidays in May under the ‘Holiday under Negotiable Instruments Act’ category this year, while the remaining seven are weekend holidays. This means banks all across India will be closed for at least seven days owing to the weekend leaves. One should also note that bank holidays falling under the Negotiable Instruments Act are not uniform and varies from region to region depending on the occasion.
For example, there is a bank holiday in Kochi and Thiruvanathapuram to observe Eid-UI-Fitra on May 2, which is today. On May three, there will be a bank holiday across the country, except these two areas, to observe Bhagvan Shree Parshuram Jayanti, Ramjan-Eid (Eid-UI-Fitra), Basava Jayanti, and Akshaya Tritiya. On May 9, banks will be closed in Kolkata on the occasion of Rabindra Jayanti, which is the birth anniversary of Rabindranath Tagore.
Here’s the Full List of Bank Holidays in May 2022 (Starting From May 1, 2022)
List of Leaves as per the Holiday Under Negotiable Instruments Act
May 2: Ramjan-Eid (Eid-UI-Fitra) — Kochi and Thiruvananthapuram
May 3: Bhagvan Shree Parshuram Jayanti/ Ramjan-Eid (Eid-UI-Fitra)/ Basava Jayanti/ Akshaya Tritiya — All over India except Kochi and Thiruvananthapuram
May 9: Birthday of Rabindranath Tagore — Kolkata
May 16: Buddha Purnima — Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar
List of Weekend Leaves
May 1: Sunday
May 8: Sunday
May 14: Second Saturday
May 15: Sunday
May 22: Sunday
May 28: Fourth Saturday
May 29: Sunday
Thus, if you have any bank related work, you must contact your local branch to confirm the bank holidays in May as per your region to avoid any hassle.
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