Bank Holidays Next Week Between May 4 And 10: Check Details

Banks will remain closed for two days this week, starting from May 4 and ending on May 10. All public and private sector banks are closed on Sundays, which will fall on May 10, 17, 24, and 31, and on the second and fourth Saturdays, which will fall on May 9 and 23. These holidays are common across India; however, different states observe other holidays in addition to these, depending on their regional festivals and observances.

This week’s two holidays are May 9 and May 10. Nobel Laureate Rabindranath Tagore’s Jayanti (Birthday) is observed as a holiday in West Bengal, and banks in the State remain closed. This year, as per the Bengali month of Boishakh, it will fall on May 9, coinciding with the second Saturday, and banks will remain closed. Although Tagore was born on May 7, 1861, his Bengali calendar birthday falls on the 25th day of the Boisakh month, which will fall on May 9 this year, making it a bank holiday in West Bengal.

May 10 (Sunday) is a nationwide mandatory weekend holiday for banks.

Which Banking Services Will Remain Operational On Holidays?

Banks will remain closed on holidays, but online banking will be operational. This means that physical branches of the banks will be closed, but online services, such as Unified Payment Interface (UPI) transactions, fund transfer through National Electronic Funds Transfer (NEFT), and Real-Time Gross Settlement (RTGS) will be working. Besides this, the debit and credit card-based online transactions, and ATM cards will be working.

All the online services that can be done through Netbanking or mobile banking, such as raising a request for issuing a demand draft, cheque book, setting up standing instructions, changing the amount limit for online transfer to manage usage, stopping a cheque payment, blocking a card, resetting card PIN, applying for a locker, will be operational.  

As per Reserve Bank of India (RBI) guidelines, all banks, whether public sector giants like the State Bank of India (SBI), Punjab National Bank (PNB), and others, or private sector banks such as HDFC Bank, Axis Bank, ICICI Bank, and so on, all the scheduled commercial banks and non-scheduled banks must shut operations on gazetted public holidays. These are in addition to the mandatory weekly off on Sundays and the second and fourth Saturdays.