Lok Sabha Election 2024 Bank Holiday: Banks In THESE Cities To Be Closed On May 20, Check List | Personal Finance News

List of Cities Where Banks will be closed on May 20

As per the Reserve Bank of India holiday calendar list owing to the elections Banks will be closed in Belapur and Mumbai on May 20, however in other states there is no RBI declared bank holiday. Though branches will be closed for physical operations, online banking activities will continue to work.

The RBI list also says that banks will be closed for Buddha Pournima on May 23 in Agartala, Aizawl, Belapur, Bhopal, Chandigarh, Dehradun, Itanagar, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar. Banks will be cloased for Nazrul Jayanti/Lok Sabha General Elections 2024 on May 25

in Agartala and Bhubaneswar.

Reserve Bank of India places its Holidays under three brackets –Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks’ Closing of Accounts. However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.

Holidays of the mentioned days will be observed in various regions according to the state declared holidays, however for the gazetted holidays, banks will be closed all over the country.