Most of the banks will remain closed on April 28, which is the 4th Saturday of this month. Banks will also remain closed on Sunday, April 29, which is the normal weekly-off day for the bank employees. On April 30 (Monday), banks will again remain closed on account of the ‘Buddha Purnima’ – a bank holiday and May 1 is Labour Day.
Here are the four days that banks are closed:
- April 28: Fourth Saturday
- April 29: Sunday
- April 30: Buddha Purnima
- May 1: Labour Day
However, not all banks in all the states will be shut on Monday and Tuesday. Banking holidays are decided according to the Negotiable Instruments Act.
On Buddha Purnima, April 29, banks in Maharashtra, Delhi, West Bengal, Madhya Pradesh, Uttar Pradesh and Haryana will be shut, according to the website of Dhanlaxmi Bank.
On Labour Day, May 1, banks in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Goa, and West Bengal will be closed.
Owing to this long closure, banking services will affect business transactions. While the banking activities will come to a halt, ATM holders will have to suffer the most since ATMs are expected to run out of cash.