Banks in select states across the country will remain closed on May 5, 2023, on the account of Buddha Purnima, according to the Reserve Bank of India's (RBI) holiday calendar. The closure will apply to banks in 13 states, including Maharashtra, Uttar Pradesh, and New Delhi. However, banks in other states will continue to operate as usual.
List Of Cities Where Banks Will Remain Shut On May 5
Agartala
Aizawl
Belapur
Bhopal
Chandigarh
Dehradun
Jammu
Kanpur
Kolkata
Lucknow
Mumbai
Nagpur
New Delhi
Raipur
Ranchi
Shimla
Srinagar
The holiday calendar released by the RBI shows that banks will have a total of 12 holidays in May 2023, taking into account weekends and the second and fourth Saturdays of the month. Customers can still conduct transactions through digital channels, including mobile and Internet services, which will remain operational.
Buddha Purnima 2023
Buddha Purnima, celebrated on the full moon day in May, is a thrice blessed day as it marks the birth, enlightenment, and passing away of Lord Buddha in Lumbini, Buddhagaya, and Kusinagar respectively. Observed on May 5, the holiday is a significant event in India where people reflect and contemplate the teachings and life of Prince Siddharta Gautama, the founder of Buddhism.
The closure of banks in select states is expected to impact financial transactions and operations, including loan approvals and fund transfers. Customers are advised to plan their banking activities accordingly and utilize digital channels where possible.
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