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Is there a public holiday on May 16, 2022? Banks will be closed for 3 consecutive days from today

Public holidays in May 2022: Banks, in both private and public sectors across the country, have a long weekend starting today, May 14. There were 11 public holidays in May, five of which have already been used. May 14, i.e. Saturday, is also a public holiday since it is the second Saturday of the month. While lenders are usually closed on Sundays, this will extend an extra day for many of them since May 16, Monday, is a public holiday on the occasion of Buddha Purnima.

The Reserve Bank of India, or RBI, draws up a plan at the beginning of each year under which lenders get their annual leave. On public holidays notified by the RBI, branches of all public, private, foreign banks, cooperative banks and regional banks remain closed. According to this list, there will be a public holiday on Monday on the occasion of Buddha Purnima. The public holiday of May 16, 2022 will be applicable in several regions including Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar. However, for lenders in cities like Chennai, Kochi and Bengaluru, there is no public holiday on Mondays.

Holidays come into effect under three categories including “Negotiable Instruments Act Holiday”, “Negotiable Instruments Act Holiday and Real-Time Gross Settlement Holiday” and “Close Accounts of banks”. A public holiday is effective due to the “bank accounts closing” on April 1, when the majority of banks across the country remain closed, while the “public holiday under the Negotiable Instruments Act” categorization records the greatest number of public holidays.

There are four Deed Holidays in My, three of which have already been exhausted. The remaining holiday will be used on Monday, after which each holiday will be a weekend. It should be noted in this regard that public holidays come into effect, in most cases, depending on the region in which a particular branch is located. This means that most holidays are region specific.

Here is the full list of public holidays in May 2022, starting May 1, 2022

List of holidays according to the Public Holidays Act under negotiable securities

May 2nd: Ramjan-Eid (Eid-UI-Fitra) — Kochi and Thiruvananthapuram

May 3: Bhagvan Shree Parshuram Jayanti/ Ramjan-Eid (Eid-UI-Fitra)/ Basava Jayanti/ Akshaya Tritiya — Everywhere in India except Kochi and Thiruvananthapuram

May 9: Birthday of Rabindranath Tagore — Kolkata

May 16: Buddha Purnima – Agartala, Belapur, Bhopal, Chandigarh, Dehradun, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar

List of weekend holidays

May 1: Sunday

May 8: Sunday

May 14: Second Saturday

May 15: Sunday

May 22: Sunday

May 28: fourth saturday

May 29: Sunday

So, if you have bank-related jobs, you should contact your local branch to confirm public holidays in May as per your area to avoid any hassle.

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