List of Bank Holidays in May 2023

The Reserve Bank of India (RBI) governs the majority of Indian banks’ operations, as well as banking hours and holidays. Financial institutions, both public and private, are closed on Sundays and the second and fourth Saturdays of each month.

Bank holidays in India occur in a variety of forms, including statutory holidays mandated by the banking sector and a host of festive and commemorative holidays sanctioned by various governments.

In May 2023, there will be just 12 days when many commercial and public sector banks would be closed due to bank holidays, including weekends. Banks will be closed for 12 days in May 2023, according to RBI guidelines, including the second and fourth Saturdays and Sundays.

All national holidays, as well as some provincial holidays, will be observed by banks. State governments designate regional holidays, which are not included on the RBI’s official website.

The month of May 2023 will have 12 bank holidays, the first of which is the Yearly Closing of Bank Accounts on May 1st, while other holidays, such as Mahavir Jayanti on May 4th, will be observed by banks across India, with the exception of a few states.

People will have little trouble with bank-related tasks because holidays are few and few between; ATMs, cash deposits, online banking, and mobile banking will all be operational. Because holidays are determined by local festivals, they may differ from one state to the next.