Banks will remain closed in various regions of the country today, May 16, due to Buddha Purnima. According to the Reserve Bank of India (RBI) holiday calendar, banks in Tripura, Belapur, Madhya Pradesh, Punjab and Haryana, Uttarakhand, Jammu, Uttar Pradesh, Maharashtra, New Delhi, Bengal, Chhattisgarh, Jharkhand, Himachal Pradesh and Srinagar would be closed on Monday, thus the weekend will be an extended one.
According to the Reserve Bank of India (RBI) rules, all banks in the country, including public, private, foreign, cooperative, and regional banks, will be closed on certain days that are notified by the country's central bank under three categories: the Negotiable Instruments Act, Holiday, Real-Time Gross Settlement Holiday, and Banks' Closing of Accounts. Bank holidays are not observed in all states, and they differ depending on the state.
There was a total of 11 bank holidays in May 2022, including second and fourth Saturdays, and Sundays.
Bank holidays in rest of May 2022:
May 16 (Monday) - Buddha Purnima. Banks will be closed in Tripura, Belapur, Madhya Pradesh, Punjab and Haryana, Uttarakhand, Jammu, Uttar Pradesh, Maharashtra, New Delhi Chhattisgarh, Jharkhand, Himachal Pradesh and Srinagar
22 May 2022: Weekly off (Sunday), All India
28 May 2022: Fourth Saturday, All India
29 May 2022: Weekly off (Sunday), All India
Buddha Purnima, which falls on May 16 this year, marks Gautama Buddha's birthday. On this day, devotees of Buddha visit temples to listen to monks give talks and recite ancient verses.
Besides this, in May 2022, there were four festivals, in addition to Sundays and the second and fourth Saturdays. Customers should note that online banking services will be available during the holidays.
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