Banks across India will be closed on May 24, as it falls on the fourth Saturday of the month. According to the Reserve Bank of India’s (RBI) official calendar, all banks regulated by the RBI remain shut on the second and fourth Saturdays of every month. This means that physical branch services, including cash deposits and withdrawals, account openings, and loan processing, will not be available on this day.
However, customers can still access digital banking services, such as mobile banking apps, ATMs, and electronic payment systems like NEFT, RTGS, and IMPS. These services will continue to operate uninterrupted, allowing customers to pay bills, transfer money, and conduct other transactions.
The RBI’s official website provides a calendar of bank holidays, which includes regional holidays. In addition to the nationwide holiday on the fourth Saturday, there are also upcoming regional holidays in May. On May 26, banks will be closed in Tripura to observe the birthday of Nazrul Islam, and on May 29, banks will be closed in Himachal Pradesh to observe Maharana Pratap Jayanti.
It’s worth noting that while physical branch services may be unavailable on certain days, digital banking services provide a convenient alternative for customers to manage their finances. Customers can use mobile banking apps to check their account balances, transfer funds, and pay bills, among other services. ATMs and electronic payment systems also offer a range of services, including cash withdrawals and fund transfers.
Overall, while bank branches may be closed on certain days, digital banking services ensure that customers can still access their accounts and conduct transactions with ease. It’s always a good idea for customers to check the RBI’s official website or their bank’s website to confirm holiday schedules and plan their banking activities accordingly.