Banks open or closed today, 16 May? Check if SBI, HDFC, PNB, other banks have a holiday on Saturday with RBI calendar

As we observe another Saturday of the month, the confusion around bank holiday arises. Account holders and registered bank customers who wish to carry out important banking transactions at SBI, HDFC, ICICI, PNB and other bank branches must stay updated with Reserve Bank of India's (RBI) monthly holiday calendar that determines days on which banks are closed or open and whether physical banking services will be offered on that specific day.

Are banks open today, 16 May?

Banks across India will remain open today, 16 May, as it is the third Saturday of the month. Since, banking activities at physical branches remain suspended only on second and fourth Saturday of every month, this Saturday is not a holiday for banks.

However, banks in some states can remain closed on account of regional holidays. Bank's non-operation affects some banking work of individual consumers. So, it is advisable for customers to check when the bank branches in their region are closed to facilitate smoother transactions.

According to the Reserve Bank of India (RBI), all private and public banks remain open today as it is third Saturday of the month. It is important to note that physical banking services will be suspended in Sikkim as the state will mark ‘State Day’ today due to which all banks will be closed across the state.

When to visit banks to avail physical banking services?

Bank customers must note bank timings to avail physical banking services as banks offer services at their branches for 6 hours each day on all working days. Banks open at 10:00 AM and wrap up customer dealing by 4:00 PM.

Full list of bank holidays in May listed by RBI

May 26, Tuesday: Kazi Nazrul Islam's birthday will be observed on May 26 due to which banks will remain closed across Tripura on this day.

May 27, Wednesday: On account of Eid-UI-Adha, Bakri-Eid or Id-ul-Zuha celebrations on May 27, the day will be observed as a holiday across India except a few states, including Karnataka, Odisha, Tamil Nadu, Sikkim, Arunachal Pradesh, Rajasthan, Maharashtra, Goa and Bihar.

May 28, Thursday: In Maharashtra, Karnataka, Tamil Nadu, Rajasthan, Jammu and Kashmir, Goa and Bihar, banks will be closed on May 28 for Bakri Eid.

All to know about different category of bank holidays

RBI, the apex monetary institution, categorises all bank holidays into three parts, namely, Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and banks’ closing of accounts. According to the RBI bank holiday calendar, banks remain open on first, third and fifth Saturdays of every month. On second and fourth Saturday, physical banking activities remain suspended as it is designated as a holiday under the Negotiable Instruments Act by the RBI. This bank holiday regulates the issuing of cheques and promissory notes.

Saturdays and Sundays listed as holidays

There are a total of three Sundays remaining in this month, so banks will remain closed on 17, 24 and 31 May. In addition to Sundays, banks will be closed on 23 May (fourth Saturday).

Are online banking services also non-operational on bank holidays?

All online banking services remain operational even on bank holidays as the closure is only for physical services offered at bank branches. Consumers can access digital and net banking services throughout the year, including expenditure analysis and account balance enquiries, unless the bank advises customers differently in the wake of maintenance activity.