Both public and private sector banks will remain closed in Karnataka on Friday (May 10) on account of Basava Jayanti/Akshaya Tritiya, according to the RBI Bank Holiday Calendar 2024. In Karnataka Basava Jayanti is a regional government holiday as the day marks the birth anniversary of Karnataka’s most venerated saint, philosopher, and social reformer—Basavanna. Since it’s a regional holiday, banks will remain open in the other parts of the country today.
Basava Jayanti falls on the third day of Shukla Paksha (18th day) of the Vaisakha month.
Banks will remain closed for three consecutive days this week in the south Indian state: Basava Jayanti (Friday), followed by second Saturday and Sunday.
Thus, if you are planning to visit banks during the weekend, remember that there will be a prolonged weekend this week.
Bank holidays are not the same across all the states in India, but differ from one state to another depending on regional festivals. One must note that even on bank holidays people can conduct their routine financial transactions and make payments online via net banking as online banking services will continue to operate as normal.
It is always good to check the Reserve Bank of India (RBI) Holiday calendar to know when banks in different parts of India will remain closed to avoid any inconvenience at the last moment.
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Why do people buy gold on Akshaya Tritiya?
In India, it is considered auspicious to buy Gold on Akshaya Tritiya. People believe that buying gold on this occasion brings good fortune and prosperity to your life. The yellow metal gold is considered a hedge against inflation and people in India are emotionally attached to the precious metal.
Recently, the surge in gold prices stopped people from investing in the yellow metal. On Friday, the price of gold changed slightly in India. Today, the price of gold in India is Rs 6,700 per gram for 22-karat gold and Rs 7,309 per gram for 24-karat gold.
Bank Holiday List In May 2024:
| Date | Holiday Reason |
| May 8 | Banks in West Bengal will remain closed in Karnataka due to Rabindra Tagore Jayanti |
| May 10 | Banks will remain closed because of the Akshaya Tritiya festival. |
| May 11 | Second Saturday |
| May 12 | Sunday |
| May 16 | Banks to remain closed in Sikkim on account of Sikkim Day |
| May 18 | Sunday |
| May 20 | Lok Sabha General Elections 2024- Banks closed in Maharashtra. |
| May 23 | Banks across different cities will remain closed due to Buddha Purnima |
| May 25 | Bank holiday: Fourth Saturday |
| May 26 | Bank holiday: Sunday |
