Several Indian states will see bank closures from April 29 to May 1 due to regional holidays including Parshuram Jayanti, Akshaya Tritiya, Maharashtra Day and Labour Day. Here's a breakdown of city-wise shutdowns
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If you’ve got important banking tasks lined up for the week, you may want to reschedule. Banks across several Indian states are slated to remain closed for three consecutive days, from Tuesday, April 29, to Wednesday, May 1. The closures fall in line with regional observances including Bhagwan Shri Parshuram Jayanti, Basava Jayanti, Akshaya Tritiya, Maharashtra Day, and Labour Day.
As is customary, bank holidays vary based on state-specific calendars and RBI notifications under the Negotiable Instruments Act.
Tuesday, April 29: Parshuram Jayanti
To honour the birth of Lord Parshuram, believed to be the sixth avatar of Vishnu, banks in Shimla will remain shut. Devotees mark the day with fasting, temple visits, and rituals dedicated to Lord Vishnu. Though the public holiday is not pan-India, it holds strong religious relevance in certain northern states.
Tuesday, 30 April: Basava Jayanti and Akshaya Tritiya
Bengaluru banks will be closed in observance of Basava Jayanti, which commemorates the birth of 12th-century philosopher and social reformer Basavanna. Revered particularly in Karnataka, the occasion celebrates his contributions towards establishing an egalitarian society and promoting values such as compassion, equality, and non-violence.
The same day also marks Akshaya Tritiya, a festival considered profoundly auspicious in the Hindu calendar. Associated with enduring prosperity, it is a popular day for purchasing gold, silver, and property. As a result, the day often sees a significant uptick in jewellery purchases and home registrations.
Wednesday, 1 May: Maharashtra Day and Labour Day
A number of Indian states, including Mumbai, Bengaluru, Kolkata, Patna, and several others, will see bank closures in honour of Maharashtra Day and International Labour Day.
Maharashtra Day commemorates the formation of the state of Maharashtra in 1960, when it was carved out of the erstwhile Bombay State following a movement driven by Marathi-speaking citizens.
Labour Day, observed globally, pays homage to the working class and their contributions to the economy.
Despite physical branch closures, core banking functions remain accessible. Internet banking, mobile applications, and ATM services will continue to operate as usual.
Keep in mind that, along with these regional public holidays, banks in India also observe closures on the second and fourth Saturday of every month.
Stock markets to take a break on 1 May
As both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are based in Mumbai, they too will remain closed on 1 May, in observance of Maharashtra Day.
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