May Day, also known as Labour Day or International Workers' Day, is celebrated annually on May 1. The occasion marks the annual day of celebration of the labour movement and its achievements. To mark the day, many states announce a public holiday, allowing workers to participate in rallies, events and take a break from their daily jobs.
The Reserve Bank of India (RBI) also lists this day as a bank holiday in several states. As per the RBI bank holiday calendar, both public and private sector banks will remain closed is several states on May 1 on account of Labour Day.
Additionally, May 1 also marks the formation of the states of Maharashtra and Gujarat. It's a public holiday in both states, as the day is an occasion to commemorate the formation of Maharashtra and Gujarat from the erstwhile Bombay State in 1960.
This means that banks, government offices, schools and educational establishments, among other public institutions remain closed on this day in Maharashtra. However, banks will not remain closed in Gujarat, as per the RBI calendar.
These States Will Observe Bank Holiday On May 1:
According to the RBI calendar, May Day holiday is observed in several states, including Kerala, Tamil Nadu, Karnataka, Goa, Maharashtra, Telangana and Andhra Pradesh. Moreover, Assam, Manipur, Bihar and West Bengal also observe a state holiday on Labour Day.
Banking operations at all public and private sector banks will remain suspended in these states on May 1.
However, the public holiday will not impact digital transactions, net banking or UPI services, etc. In view of the holiday, customers are advised to check with their regional branches before undertaking any significant transactions or making plans to visit the banks.
Full List Of Bank Holidays In May
May 1: Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, West Bengal, Goa and Bihar.
May 9: To mark the birthday of Rabindranath Tagore, West Bengal will observe a holiday on this day.
May 12: Banks in Tripura, Mizoram, Maharashtra, Madhya Pradesh, Uttar Pradesh, West Bengal, New Delhi, Chhattisgarh, Uttarakhand, Arunachal Pradesh, Jammu and Kashmir, Jharkhand and Himachal Pradesh will remain closed on May 12 on account of Buddha Purnima.
May 16: Sikkim-based banks will be closed to mark Sikkim State Day.
May 26: Tripura will observe a holiday on the birth anniversary of Kazi Nazrul Islam.
May 29: Banks in Himachal Pradesh will remain closed to mark Maharana Pratap Jayanti.
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