Bank holiday today, 9 May: Banks across India will remain closed today, 9 May, as this is the second Saturday of the month. Since, bank holidays imply suspension of banking activities at physical branches, this non-operation affects some banking work of individual consumers. Therefore, it is advisable for customers to check when their branches close to facilitate smoother transactions.
According to the Reserve Bank of India (RBI), all private and public banks remain closed on every second and fourth Saturday of the month. This is designated bank holiday for all banks in addition to closure observed on all Sundays of the month. This means that all banks across India including SBI, PNB, ICICI Bank, HDFC bank and other private and public lenders will close all their branches today.
What are the typical bank holidays?
RBI, the apex monetary institution, categorises all bank holidays into three parts, namely, Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and banks’ closing of accounts. According to the RBI bank holiday calendar, banks remain open on first, third and fifth Saturdays of every month. On second and fourth Saturday, physical banking activities remain suspended as it is designated as a holiday under the Negotiable Instruments Act by the RBI. This bank holiday regulates the issuing of cheques and promissory notes.
Which Saturdays and Sundays are listed as holidays?
There are a total of 4 Sundays remaining in this month, so banks will remain closed on 10, 17, 24 and 31 May. In addition to Sundays, banks will be closed on 9 May (second Saturday) and 23 May (fourth Saturday).
Apart from the weekend offs, bank holidays vary from region to region depending upon the regional festivals and observances. However, all banks are closed on national holidays like Republic Day and Gandhi Jayanti.
Other bank holidays in May
May 16, Saturday: Sikkim will mark ‘State Day’ on Saturday due to which banks will be closed across the state.
May 26, Tuesday: On the occasion of Kazi Nazrul Islam’s birthday, banks will remain closed in Tripura.
May 27, Wednesday: On the occasion of Eid-UI-Adha, Bakri-Eid or Id-ul-Zuha celebrations — the Islamic festival commemorating Prophet Ibrahim’s devotion to God — the day will be observed as a holiday across India except in Karnataka, Odisha, Tamil Nadu, Sikkim, Arunachal Pradesh, Rajasthan, Maharashtra, Goa and Bihar.
May 28, Thursday: Bakri ID will be observed in Maharashtra, Karnataka, Tamil Nadu, Rajasthan, Jammu and Kashmir, Goa and Bihar on Thursday.
Bank timings
On all working days, banks open at 10:00 AM and wrap up customer dealing by 4:00 PM.
Will online banking services also remain suspended on bank holidays?
No, online banking services will not remain suspended on bank holidays. The closure is only for physical services offered at bank branches. Digital banking services such as internet banking, SMS banking, and WhatsApp banking services will remain serviceable for account holders and registered bank customers. Hence, account holders and registered bank customers will be able to carry out all financial and non-financial transactions without interruption even on bank holidays.
Online transactions such as bill payments, mobile top-ups, prepaid phone recharge fund transfers or hotel, flight and train bookings can be done as usual. Unless the bank advises customers differently (usually for maintenance work), consumers can access digital and net banking services throughout the year, including expenditure analysis and account balance enquiries.
