India will observe May Day on Thursday, May 1, 2025, marking a significant day with widespread closures across various sectors and states in honor of International Labour Day and Maharashtra Day. This dual public holiday will impact banking operations, stock markets, educational institutions, and other public services in multiple regions.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain closed for all trading activities on May 1, 2025. There will be no operations in equities, equity derivatives, currency derivatives, or the securities lending and borrowing (SLB) segments on this day. This closure is part of the 14 scheduled market holidays listed under the NSE’s 2025 calendar. However, commodity trading on the Multi Commodity Exchange (MCX) will be partially affected; while the exchange will be closed during the morning session from 9 a.m. to 5 p.m., it will resume operations in the evening session from 5 p.m. to 11:30 p.m. for commodities like crude oil, gold, and agricultural products.
According to the Reserve Bank of India’s (RBI) holiday schedule, banking services will be suspended in several states on May 1, including Maharashtra, Tamil Nadu, Kerala, Telangana, Karnataka, Andhra Pradesh, Goa, Assam, Manipur, Bihar, and West Bengal. Both public and private sector banks will be shut in these regions. Notably, Gujarat will not see bank closures on this day, even though it also commemorates its statehood. While branches will remain closed in many areas, digital banking, internet transactions, and UPI services will continue as usual. Customers are advised to check with their local branch before making significant transactions or plans.
Schools and government offices are also expected to remain closed on May 1, particularly in Maharashtra. The day is marked with rallies, commemorations, and awareness drives around workers’ rights and achievements. In Maharashtra, the day also celebrates the formation of the state in 1960, making it a dual occasion referred to locally as Maharashtra Diwas. The significance of May Day in India is profound, as it pays tribute to the global labour movement. The first Labour Day celebration in India was organized by the Labour Kisan Party of Hindustan in Madras (now Chennai) in 1923. Since then, it has evolved into a day of awareness and celebration across both the organized and unorganized sectors, with over 500 million workers forming India’s labour force.
International Labour Day, or May Day, is observed annually on May 1 to honor the contributions and struggles of workers worldwide. It originated from the labor union movement, particularly the 1886 Haymarket affair in Chicago, where workers rallied for the eight-hour workday. This day serves as a powerful reminder of the importance of workers’ rights, fair wages, and safe working conditions. In many countries, it is marked by rallies, marches, and events that emphasize solidarity, equality, and justice for the working class.
In addition to Labour Day, May 1 also marks the formation of the states of Maharashtra and Gujarat. Both states celebrate this day as a public holiday, reflecting on their cultural pride and unity. Celebrations include parades, cultural events, flag hoisting ceremonies, and tributes to the leaders and citizens who contributed to the states’ formation. Government offices, schools, and public institutions often host special programs to commemorate this historic occasion.
In Maharashtra, schools will be closed to commemorate Maharashtra Day, marking the state's formation in 1960. The day is celebrated with various events, particularly in Mumbai, where cultural programs and parades take place. The Punjab government has also declared a public holiday on May 1, closing all government and semi-government offices, as well as educational institutions, to honor International Labour Day. Other states observing a school holiday on May 1 include Assam, Bihar, Goa, Karnataka, Kerala, Manipur, Puducherry, Telangana, Tamil Nadu, Tripura, and West Bengal.
While the day is a public holiday in many states, it is important to note that several private or independent educational institutions may choose to remain open or follow a different schedule according to their internal policies. Therefore, it is advisable for parents and students to check with local authorities or institutions for any specific updates or changes.
As the holiday approaches, many people are left wondering about the impact on banking services. The RBI guidelines specify that bank holidays are based on state-specific festivals and events in addition to a few national holidays. In many Indian states, May 1 is observed as a public holiday, which means that banking operations at all public and private sector banks will remain suspended. However, modern banking services like ATMs and other online transactions will not be affected, even if bank branches in certain states are closed.
In May 2025, banks across various states are scheduled to remain closed for 12 days, which include both national and state-specific holidays. Customers are urged to keep these dates in mind, as they could affect key services such as visiting branches, cheque clearance, and transaction processing. The upcoming holidays in May include May 9 for Rabindranath Tagore's birthday, May 12 for Buddha Purnima, May 16 for Sikkim State Day, and May 29 for Maharana Pratap Jayanti.
As India gears up to celebrate May Day and Maharashtra Day, citizens are reminded of the significance of these observances. It is a time to reflect on the contributions of workers and the historical context of state formations, while also understanding the practical implications of public holidays on daily life.
