Lok Sabha Elections 2024: Are banks closed in Mumbai today? Check here

Lok Sabha Elections 2024: Banks will remain closed in Mumbai today due to the fifth phase of Lok Sabha elections. As per the Reserve Bank of India's holiday calendar, branches of all the PSU and private banks in the Mumbai region will remain shut on Monday, May 20. 

Lok Sabha Elections 2024 phase 5 voting LIVE Updates

Apart from Mumbai, banks will remain closed in the Belapur and Lucknow regions due to Lok Sabha Elections phase 5 voting today. A total of 49 constituencies across six states and two Union Territories will go to polls on Monday. 

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Today's polling will decide the fate of 695 candidates contesting elections in these constituencies. The fifth phase of polling is underway in Odisha, Uttar Pradesh, Ladakh, Jharkhand, West Bengal, Maharashtra, Bihar, and Jammu and Kashmir.

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Bank Holiday on May 20

It is worth noting, that banks will not remain closed across India. Banks will not remain closed in other parts of the country besides the three regions mentioned under Holiday under Negotiable Instruments Act. The RBI has categorised bank holidays in three types, ie  Holiday under the Negotiable Instruments Act, Holiday under the Negotiable Instruments Act and Real Time Gross Settlement Holidays, and Banks' Closing of Accounts.

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Stock Market Holiday on May 20

Due to Lok Sabha elections in Mumbai, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain shut on Monday. According to the BSE market holiday calendar, all the sections stock market including equity sections, derivative, SLB, etc will remain closed today.

The stock market will reopen on Tuesday, May 21, after a fifteen-minute pre-opening session starting at 9:00 am.

Lok Sabha Elections 2024

Voting is underway in 49 Lok Sabha constituencies across six states and two Union Territories today. Additionally, voters in 35 assembly constituencies in Odisha will exercise their franchise today. ECI said in a statement on May 16 that the overall voter turnout in the fourth phase of polling will remain at 66.95%. 

After the fifth phase of Lok Sabha voting, elections in 428 seats will be over. The remaining two phases of Lok Sabha elections will be held on May 25 and June 1.