Are Banks Closed On May 1? Check The Details
NDTV
Bank Holiday On May 1: May Day, celebrated on May 1, has historical significance as both a traditional spring festival and an international labour holiday.
May 1, celebrated globally as International Workers' Day (or May Day/Labour Day), honours the achievements and contributions of workers worldwide. Stemming from the historic struggles of labour movements, this day commemorates the fight for workers' rights, fair wages, and improved working conditions. May 1 is a day to reflect on the sacrifices made by those who campaigned tirelessly for the eight-hour workday, weekends and other fundamental labour rights we often take for granted today. It's an occasion to recognise the dignity of labour and the vital role workers play in shaping our societies and economies.
May 1 is also celebrated as the foundation day of the states of Gujarat and Maharashtra. The Reserve Bank of India (RBI) has announced May 1 as a bank holiday under the Negotiable Instruments Act.
As per the RBI list, banks will remain closed on this day in 11 states. These are: Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, Bengal, Goa and Bihar.
