Bank closures in Karnataka for Basava Jayanti and Akshaya Tritiya
Banks in Karnataka will be closed on Friday, May 10, 2024, due to Basava Jayanti and Akshaya Tritiya.Basava Jayanti is a regional holiday in Karnataka that marks the birth of Basavanna, a key figure in the Lingayat tradition, who was born around 1105 CE in northern Karnataka.
Since May 10 is a Friday, banks in Karnataka will be closed for three days in a row, with the second Saturday and Sunday following. If you plan to visit a bank in Karnataka during this weekend, keep this in mind.
Bank operations in other parts of India
Outside of Karnataka, banks are expected to operate normally on Akshaya Tritiya, as it is not recognized as a national holiday. However, bank closures vary across different states depending on regional holidays and local events.
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Bank holidays in May 2024
Banks in India will be closed for 14 days in May 2024, as per the Reserve Bank of India‘s (RBI) holiday schedule. Below is a list of the upcoming bank holidays for the rest of May:
– May 10: Banks in Karnataka are closed for Basava Jayanti and Akshaya Tritiya.
– May 13: Banks in Srinagar are closed for the Lok Sabha General Elections.
– May 16: Banks in Sikkim are closed for State Day.
– May 20: Banks in Maharashtra are closed for the Lok Sabha General Elections.
– May 23: Buddha Pournima leads to bank closures in Tripura, Mizoram, Madhya Pradesh, Chandigarh, Uttar Pradesh, Arunachal Pradesh, Jammu, Lucknow, Bengal, New Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh, and Srinagar.
– May 25: Banks in Tripura and Odisha are closed for Nazrul Jayanti and the Lok Sabha General Elections.
Bank holidays in India
The Reserve Bank of India (RBI) has set bank holidays in three categories: the Negotiable Instruments Act holidays, Real-Time Gross Settlement holidays, and bank account closing days. Banks across India, whether public, private, foreign, cooperative, or regional, are closed on these holidays.
All banks close for major national holidays like Republic Day (January 26), Independence Day (August 15), Gandhi Jayanti (October 2), and Christmas (December 25). They also close for other important festivals, including Diwali, Eid, Guru Nanak Jayanti, and Good Friday. However, other bank holidays depend on the state.
Additionally, banks are closed every second and fourth Saturday of the month and every Sunday, as required by the RBI.
