Buddha Purnima Bank Holiday: Are Banks Closed on Thursday, 23rd May 2024?

Buddha Purnima Bank Holiday
Buddha Purnima Bank Holiday

Every year, banks in India observe several holidays as per guidelines issued by the Reserve Bank of India (RBI). These holidays vary across different states and are often influenced by local festivals and significant events. One such notable occasion is Buddha Purnima, also known as Buddha Jayanti or Vesak, a major event celebrated not just in India but worldwide by the Buddhist community. This article provides detailed information about the bank closures on Buddha Purnima in 2024 and other bank holidays occurring in May.

Also Read: Bihar Chhatravas Anudan Yojana 2024: Eligibility, Benefits, Application Process

When is Buddha Purnima 2024?

Buddha Purnima falls on the Full Moon Day of the Vaisakh month, which is in May according to the Gregorian calendar. In 2024, this auspicious day is observed on Thursday, May 23. Buddha Purnima is celebrated with great reverence as it marks three significant events in the life of Lord Buddha—the day of his birth, his enlightenment, and his Mahaparinirvana or final nirvana after death.

Is Buddha Purnima a Bank Holiday?

Yes, Buddha Purnima is recognized as a bank holiday in India. The Reserve Bank of India includes this day in its official list of holidays under the Negotiable Instruments Act. However, it is important to note that while banks in many states will be closed, digital banking services will remain operational, ensuring that banking activities can still be conducted online.

Buddha Purnima: In Which States Are Banks Closed?

The holiday is observed in various states, reflecting the diverse cultural landscape of India where regional observances impact banking operations. In 2024, banks will remain closed in the following states on account of Buddha Purnima:

  • Tripura
  • Maharashtra
  • Mizoram
  • Madhya Pradesh
  • Chandigarh
  • Uttarakhand
  • Arunachal Pradesh
  • Jammu
  • Uttar Pradesh
  • West Bengal
  • New Delhi
  • Chhattisgarh
  • Jharkhand
  • Himachal Pradesh
  • Srinagar

List of Other Bank Holidays in May 2024

May is a month brimming with holidays, leading to several bank closures. Apart from Buddha Purnima, here are other significant days when banks will be closed in May 2024:

  • Maharashtra Din/May Day (Labour Day) on May 1.
  • Lok Sabha General Elections (dates to be confirmed based on election schedule).
  • Birthday of Rabindranath Tagore on May 9.
  • Basava Jayanti/Akshaya Tritiya on May 14.
  • Other election-related closures as per local scheduling.
  • State Day (specific dates and states vary).
  • Nazrul Jayanti on May 25, coinciding with the fourth Saturday, affecting banks in Tripura and Orissa.

The RBI also recognizes three national holidays when banks across India are closed: Republic Day (January 26), Independence Day (August 15), and Gandhi Jayanti (October 2). Understanding these holidays can help customers plan their banking needs accordingly, avoiding inconvenience caused by unscheduled visits to closed bank branches.

This comprehensive overview of bank holidays in May 2024, centred around Buddha Purnima, ensures that individuals and businesses can plan their financial transactions without disruption, leveraging digital banking facilities during physical bank closures

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