Banks in Hyderabad to observe eight holidays in May

Hyderabad: The banks in Hyderabad are set to observe eight holidays in May 2024. Some of them are declared by the Reserve Bank of India (RBI) under the Negotiable Instruments Act.

According to the RBI, there are a total of nine bank holidays this month, but banks in the city will be closed on one day under the Negotiable Instruments Act. The holiday was on May 1. However, there are more seven holidays.

Banks in Hyderabad to observe holiday on May 13

On May 13, banks in the city will remain closed for polling in the state.

The state is going to witness polling in Telangana on Monday to elect 17 Lok Sabha MPs from the state.

In addition to these holidays, banks will be closed on Sundays and the second and fourth Saturdays.

Following is the complete list of holidays for banks in Hyderabad:

• May 1: Maharashtra Din/May Day (Labour Day)
• May 5: Sunday
• May 11: Second Saturday
• May 12: Sunday
• May 13: Election Day
• May 19: Sunday
• May 25: Fourth Saturday
• May 26: Sunday

Types of banks in India

In Hyderabad and other cities in India, banks are classified based on ownership and type of customers etc.

Following is the list of various types of banks in India:

• Public sector banks
• Private sector banks
• Co-operative banks
• Regional rural banks
• Payment banks
• Small finance banks
• Foreign banks

These banks in Hyderabad will observe holidays on the eight listed days in May.