Bank Holidays In May: Banks will remain closed for three days after Friday’s business. There is a bank holiday for 11 days in this entire month. Know when the banks will be closed in the coming days and why?
Bank Holidays 2022: If you have any very important work related to the bank, then settle it today. Banks will remain closed for three days from tomorrow. A three-day-long weekend of banks is going to start this Saturday. Banks are getting a total of 11 holidays in the month of May.
According to RBI, banks are going to remain closed on May 16 in many parts of India. On this day i.e. Monday, a holiday has been given for Budh Purnima. A day before that, on Sunday, the banks are closed in the same way. Banks will remain closed due to the second Saturday before Sunday, May 14.
In banks, every Sunday is a holiday, but every Saturday is not a holiday. Banks work on the first and third Saturdays of the month, while banks are closed on the second and fourth Saturdays.
Circular is issued from here
The details of holidays falling in the month are released by the Reserve Bank of India (RBI) every month. The holidays falling in May were divided into 3 parts. First- Holiday under Negotiable Instruments Act, second Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday (Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday), and third- Bank Accounts Closing ( Banks’ Closing of Accounts).
11 Holiday details
Four holidays have been given this month under the Holiday Under Negotiable Instruments Act. Out of the total 11 holidays, five holidays have been used. These include May 1 (Sunday), May 2 (Eid-ul-Fitr), May 3 (Lord Shri Parshuram Jayanti/Ramadan-Eid ( Eid – ul-Fitr)/Baswa Jayanti/Akshay Tritiya), May 8 (Sunday), and May 9. (Rabindranath Tagore Jayanti). Now including Sundays, there are 6 more holidays in total.
May 22 is a Sunday after 3 consecutive holidays from May 14 to 16. After that, the fourth Saturday and Sunday are off on 28th and 29th respectively.
