Are banks closed today? People seem to be confused about whether financial institutions across the country are closed today or tomorrow. So, to clear your doubts, banks across the majority of cities in India are closed on May 28 in observance of Eid al-Adha.
However, many states will observe the festival today, so banks across some states are closed on May 27 as well. Also, it’s a two-day holiday for banks in Jammu and Srinagar.
At the same time, Indian stock markets, i.e. National Stock Exchange of India and Bombay Stock Exchange, will remain shut on May 28.
Bank holiday schedule revised
As per the RBI holiday calendar, banks across New Delhi will be closed on May 27 in observance of Eid al-Adha. However, central government offices and the Supreme Court have revised their working schedule and will be closed on Thursday, May 28.
In the states of West Bengal, Andhra Pradesh, and Telangana, too, the state governments have shifted the public holiday for Eid al-Adha to May 28.
Bank holiday on May 27
Despite the prevailing confusion, banks across the cities of Chandigarh, Guwahati, Jammu, Kanpur, Kochi, Lucknow, New Delhi, Raipur, Srinagar, and Thiruvananthapuram will be closed on Wednesday, May 27 for the festival of Bakri-Eid
Banks closed on May 27 and May 28
Meanwhile the cities of Jammu, Srinagar, Kochi, and Thiruvananthapuram will observe the festival of Bakri Id for two days, and financial institutions will be closed on both Wednesday and Thursday.
Banks closed on May 28
Financial institutions across the cities of Agartala, Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Dehradun, Hyderabad, Imphal, Jaipur, Kohima, Kolkata, Mumbai, Nagpur, Panaji, Patna, Ranchi, Shillong, Shimla, and Vijayawada will be closed on Thursday, May 28 for the occasion of Bakri ID (Id-Uz-Zuha)
Readers are advised to check the official RBI website and contact their local branches for more precise information.
NSE and BSE closed on May 28
Equity markets and currency markets will also observe a holiday on May 28 on the occasion of Eid al-Adha. This means investors cannot trade in shares, stocks, or any other form of securities.
However, Multi Commodity Exchange of India will only observe a partial closure for Eid al-Adha, as trading will remain suspended for its morning session (9:00 AM to 5:00 PM IST) and will resume operations for its evening session (5:00 PM to 11:30 PM IST), with prices aligning with global cues.