Banks across India will be closed on May 1, 2025, in observance of both Labour Day and Maharashtra Day, marking significant historical events for the country. The Reserve Bank of India (RBI) has confirmed that various cities, including major metropolitan areas, will see their banks shuttered for the day, while online banking services will continue to operate without interruption.
Labour Day, also known as May Day, is celebrated worldwide on May 1 to honor the contributions of workers and the labor movement. In India, it is a public holiday recognized in many states, emphasizing the importance of workers' rights and achievements. This year, May Day coincides with Maharashtra Day, which commemorates the establishment of the state of Maharashtra on May 1, 1960.
Maharashtra Day, or Maharashtra Din, celebrates the linguistic and cultural unity that led to the formation of the state, following the Bombay Reorganisation Act of 1960. This act divided the Bombay State into separate states for Marathi and Gujarati speakers, a pivotal moment in India's history.
On May 1, banks will be closed in several states, including Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, West Bengal, Goa, and Bihar. Cities where banks will be closed include Belapur, Bengaluru, Chennai, Guwahati, Hyderabad (both Andhra Pradesh and Telangana), Imphal, Kochi, Kolkata, Mumbai, Nagpur, Panaji, Patna, Raipur, and Thiruvananthapuram.
In total, banks across India will observe 12 holidays in May 2025. These include the following:
- May 1: Labour Day and Maharashtra Day
- May 7: Panchayat Election 2025
- May 9: Birthday of Rabindranath Tagore
- May 12: Buddha Pournima
- May 16: State Day
- May 26: Birthday of Kazi Nazrul Islam
- May 29: Maharana Pratap Jayanti
It’s essential for customers to check their respective banks for local variations in holiday observance, as not all banks may close on the same days in every region. The RBI categorizes holidays based on the Negotiable Instruments Act and other regulations, leading to varied observances across states.
With physical bank branches closed, digital banking platforms will remain crucial for customers needing to manage their finances during this time. Services such as mobile banking, internet banking, and UPI will allow users to check balances, transfer funds, and pay bills anytime and anywhere. This flexibility is vital for ensuring that financial commitments are met, even when traditional banking services are unavailable.
During bank holidays, customers can still utilize various online services, including NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement), to facilitate transactions. Credit card, debit card, and ATM services will also be accessible, allowing for continued financial activity.
As the month progresses, customers should remain aware of additional bank holidays that may affect their banking activities. The second and fourth Saturdays of May will also see banks closed, alongside Sundays, which are mandatory weekly off days. Specifically, the second Saturday falls on May 10, and the fourth Saturday on May 31.
In summary, the dual observance of Labour Day and Maharashtra Day on May 1, 2025, will result in widespread bank closures across multiple states in India. While physical branches will be unavailable, digital banking services will provide essential support to customers, ensuring that they can continue to manage their finances effectively during this period. As always, it is advisable for customers to stay informed about their bank’s specific holiday schedule and available services.
