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May 1 Bank Holiday: Labour Day and Maharashtra Day Close Banks in Select States

Updated: May 01, 2025 06:55

Image Source: India.com
On May 1, 2025, banks across several states in India are closed in observance of International Labour Day and Maharashtra Day. These holidays commemorate workers' rights and the formation of the state of Maharashtra, respectively. Here's a detailed overview:
 
Key Highlights
 
Bank Closures:
 
Banks are closed in states such as Maharashtra, Tamil Nadu, Karnataka, West Bengal, and Telangana, among others.
 
The closures are in line with the Reserve Bank of India's (RBI) guidelines for state-specific holidays.
 
Operational Services:
 
While physical branches remain closed, online banking services, ATMs, and digital transactions are fully operational.
 
Customers can continue to access essential banking services through digital platforms.
 
Stock Market Impact:
 
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are also closed for trading on May 1 due to Maharashtra Day.
 
Regional Observances:
 
Maharashtra Day marks the formation of the state of Maharashtra in 1960 and is celebrated with parades, speeches, and cultural events.
 
Labour Day, also known as May Day, honors the contributions of workers and the labor movement.
 
Advisory for Customers:
 
Customers are advised to plan their banking activities accordingly, as cheque clearances and branch-specific services will resume on the next working day.
 
This announcement highlights the significance of May 1 as a public holiday and its impact on banking and financial services.
 
Sources: MSN, News24, DNA India

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