Why are banks closed today? Check full May holiday list and upcoming closures

Banks across India are closed on May 23 as the day falls on the fourth Saturday of the month, which is an official holiday for banking institutions under Reserve Bank of India guidelines.

According to RBI rules, banks remain shut on the second and fourth Saturdays of every month, apart from Sundays and region-specific public holidays.

Why banks are closed today

Customers planning to visit bank branches today will not be able to access over-the-counter services including cash deposits, withdrawals, passbook updates and branch-level customer support.

However, online banking services, ATMs, UPI transactions and mobile banking platforms will continue functioning normally.

State-wise holidays in May 2026

The RBI holiday calendar for May 2026 also includes several regional holidays observed in different states.

Some of the important holidays this month include:

• Maharashtra Din and Buddha Pournima on May 1
• Rabindranath Tagore’s birth anniversary on May 9
• State Day on May 16
• Kazi Nazrul Islam’s birth anniversary on May 26
• Eid-ul-Adha or Bakrid holidays on May 27 and 28 in selected states

Bank holidays vary depending on local festivals and state-specific observances.

Bank unions continue demand for five-day work week

Meanwhile, bank employee unions are continuing to push for a five-day work week in the banking sector.

Currently, banks remain open on the first, third and fifth Saturdays of the month. Under the proposed system, banks would remain closed on all Saturdays and Sundays, similar to many other government and financial institutions.

The United Forum of Bank Unions has argued that a five-day schedule would reduce employee stress and improve efficiency. To compensate for reduced working days, unions have proposed extending daily working hours from Monday to Friday by around 40 minutes.

Earlier this year, bank unions had also organised strikes demanding revised work conditions and implementation of a complete five-day banking schedule.

Usual bank working hours

Most public sector banks including State Bank of India, Punjab National Bank and Bank of India usually operate between 10 am and 4 pm on working days.

Private banks such as HDFC Bank, ICICI Bank and Axis Bank generally function from around 9:30 am until 4:30 pm, depending on branch location.