Bank Holidays List: Planning to go to the bank next week? Read this important news before leaving home

The month of May has brought with it a list of holidays along with its heat. If you have any important work related to the bank like check clearance, KYC update or submission of loan documents, then this news is for you only. It is often seen that people reach the bank unprepared and feel disappointed after seeing it locked. To save time and effort, it is important that you take a look at the holiday list of Reserve Bank of India (RBI).

The good news is that between the second and third week of May, you are going to get plenty of time to complete your banking work. Actually, there is no long sequence of holidays in the next seven days, but banks are going to be hit hard by holidays in the last fortnight of the month. Let us know when the banks will open and when they will remain closed in the next week and the remaining days of May.

Next 7 days: What is the banking schedule between May 11 and 17?

If you are thinking of going to the bank between Monday 11th May and Sunday 17th May, then there is good news for you. Banks will remain closed only for one day during this entire week. Actually, there is no major national or regional festival falling during this period, due to which the work will continue smoothly.

It is being told that May 16 is the third Saturday of the month. According to banking rules, all banks work fully on the first, third and fifth Saturday of the month. This means that branches of the country’s leading government bank SBI and private banks like HDFC and ICICI will also remain open normally till Saturday. Customers will have to face weekly holiday only due to May 17 being a Sunday.

Mathematics of the third Saturday and other holidays of May

Often people are confused about whether banks will open on Saturday or not. The formula is simple—the second and fourth Saturdays of the month are holidays, while the remaining Saturdays are working days. In this respect, it is safe to go to the bank on May 16. However, in the last 10 days of May, you will have to be a little careful in your planning.

A big patch of holidays is coming at the beginning of the last week of May. Due to May 23 being the fourth Saturday of the month, there will be no work in banks across the country. Immediately after this, there is a Sunday holiday on 24th May. At the same time, the festival of Bakrid (Eid-ul-Adha) will be celebrated on May 27 (Wednesday), due to which banks will remain closed in most parts of the country including Delhi, Mumbai, Lucknow and Kolkata. The last day of the month i.e. 31st May is also a Sunday, which will bring a weekly holiday for bank employees.

What to do if banks are closed? Is it digital banking?

In today’s era, closure of a bank branch does not mean stopping of financial transactions. If you need to send urgent money to someone or receive payment, then digital mediums are the best option. Through Internet Banking and Mobile Banking you can avail the benefits of NEFT, RTGS and IMPS 24 hours.

Apart from this, the facility of UPI is already available in your phone. You can make payments anywhere, anytime through apps like Google Pay, PhonePe and Paytm. At the same time, if the pockets are empty and cash is needed, then ATM services remain operational as usual. Just keep in mind that for big paperwork and locker related work, check the bank’s working timings and holiday calendar in advance so that you do not have to rush unnecessarily.