Home / News / India /  Bank holiday on May 16? List of states where banks will remain shut on Monday
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Banks will be closed for three consecutive days this week due on the second Saturday, Sunday as well as on Monday, as per the Reserve Bank Of India (RBI) holiday calender. However, banks will be closed in some states on Monday in observance of Buddha Purnima, May 16.

The banks will be closed in Tripura, Belapur, Madhya Pradesh, Punjab, Haryana, Uttarakhand, Jammu, Uttar Pradesh, Maharashtra, New Delhi, Uttar Pradesh, Bengal, Chhattisgarh, Jharkhand, Himachal Pradesh, and Srinagar.

Banks are generally closed every Sunday of a month. However, they are open on the first and third Saturdays of the month which means the second and fourth Saturdays are holidays.

RBI circulates bank holiday details every month. In May, the holidays were segregated into three categories - Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts.

This month, there are four holidays under the Negotiable Instruments Act.

Of the total 11 holidays, banks have already utilised 5 holidays which were on May 1 (Sunday), May 2 (Eid-UI-Fitra), May 3 (Bhagvan Shree Parshuram Jayanti/Ramjan-Eid (Eid-UI-Fitra)/Basava Jayanti/Akshaya Tritiya), May 8th (Sunday), and May 9th (Birthday of Rabindranath Tagore).

Now banks will remain closed on May 22 (Sunday), and further from May 28 to May 29 as the fourth weekend.

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