Bank Holiday: There is a big news for bank account holders. Every year 1 May is celebrated as International Labor Day, also known as May Day. This day is dedicated to the respect of workers around the world and awareness of their rights. In such a situation, many people have this question in their mind that will the banks be open on May 1 or will there be a holiday in the banks on this day?
Because it often happens that due to lack of information, people go to the bank on a holiday and their work is not done due to the bank being closed. In such a situation, if you are also planning to go to the bank on May Day, then this article is for you. Let’s know.
Will banks be closed across the country on May 1?
Under the guidelines of RBI, bank holidays depend on some national holidays as well as state-specific festivals and occasions. May 1, i.e. Labor Day, is a day that is celebrated as a public holiday in many states of India. However, it is not a mandatory national bank holiday for the whole country. Now let us know in which states the banks will remain closed on this day.
Along with Labor Day, May 1 is also the foundation day of some states, such as Maharashtra Day and Gujarat Day. Therefore, banks are definitely closed in these states. Apart from Maharashtra and Gujarat, state governments in many other states have declared bank holiday on May 1 under the Negotiable Instruments Act.
Let us know in which states the banks will remain closed on May 1. Banks will remain closed in Assam, Bihar, Goa, Gujarat, Manipur, Karnataka, Kerala, Tamil Nadu, Telangana, West Bengal, Tripura, Jammu and Kashmir and Delhi. But dont worry, Even if bank branches remain closed in your state on May 1, modern banking services will not be affected. Digital banking services will continue as usual.