Banks to remain shut for 13 days in May
Mumbai, April 27 (KNN) Marking several notable occasions in the month of May the Banks will remain closed for 13 days depending on the regional location of the bank.
Apart from the weekends, there are several religious and culture occasions which will be celebrated in the next month such as Id-ul-Fitr, Buddha Purnima, and Bhagvan Shree Parshuram Jayanti.
Few occasions are celebrated in certain particular states hence bank holidays is assigned to those states by the Reserve Bank of India (RBI).
The apex bank categorises the holidays' list as national and regional under Negotiable Instruments Act, Negotiable Instruments Act and Real Time Gross Settlement Holiday, and Banks’ Closing of Accounts.
While some holidays will be region specific which means they may vary from state to state, others will be national.
There are total 13 holidays in May out of which 8 are for occasions and festivals along with 5 holidays for Sundays and second and fourth Saturday. (KNN Bureau)