Bank holidays 2025: Are banks open on May 1st? Check the state-wise list

In celebration of Labour Day and Maharashtra Day, Indian stock markets, banks, and schools will all be closed on May 1, 2025. Workers' contributions are honoured on this official holiday

If you have banking tasks lined up, take note—May 1 marks International Labour Day, a public holiday celebrated across many parts of India to honour workers’ rights and contributions. As the day is observed with official closures in several states, many customers are left wondering: Will banks be open on May 1?

 

Every year, confusion arises when people unknowingly head to banks on public holidays, only to find them shut. In this case, this article is for you if you also intend to visit the bank on May Day.

Importance of May 1 in India?

May Day or International Workers' Day is another name for Labour Day 2025. The date of its observance is Thursday, May 1, 2025. This day honours the accomplishments and contributions of workers everywhere. The labour movement of the late 19th century is where it all began. In India, Labour Day is a public holiday in many states, such as Maharashtra, Tamil Nadu, and West Bengal. 

 

Since 1923, India has observed Labour Day, which coincides with Maharashtra Day, which commemorates the state's creation in 1960. In honour of these holidays, Indian stock markets, banks, and schools will all be closed on May 1, 2025.  ALSO READ | Stock Market Holiday: Are NSE, BSE open or shut on Maharashtra Day, May 1?

Will banks be closed on May 1 nationwide?

The RBI's guidelines specify that bank holidays are based on state-specific festivals and events in addition to a few national holidays. In many Indian states, May 1, also known as Labour Day, is observed as a public holiday. Nonetheless, the entire nation is not required to observe this national bank holiday.

 

May 1st is not just Labour Day but also the founding day of several states, including Gujarat Day and Maharashtra Day. The banks in these states will, therefore, be closed. Under the Negotiable Instruments Act, the state governments of numerous other states, other than Maharashtra and Gujarat, have announced a bank holiday for May 1.

 

Assam, Bihar, Goa, Gujarat, Manipur, Karnataka, Kerala, Tamil Nadu, Telangana, West Bengal, Tripura, Jammu & Kashmir, and Delhi would all have their banks closed. Although modern banking services like ATMs and other online transactions will not be impacted, even if bank branches in your state stay shut on May 1.

 

In May 2025, banks are scheduled to remain closed for 12 days, which include both national and state-specific holidays. Customers are advised to keep these dates in mind, as they could affect key services like visiting branches, cheque clearance, and transaction processing.