
Rabindranath Tagore Jayanti 2025: Are Banks Open Or Close Today, May 09? Check Status
Bank Holiday Today: Rabindranath Jayanti is falling today, May 09. Are banks close today?
Rabindranath Tagore Jayanti 2025: The Jayanti of Rabindranath Tagore is falling tomorrow, May 09. The day is celebrated annually to honor the birth anniversary of the renowned poet, writer and Noble laureate. Therefore, people are in a doubt if banks are open today.
According to the Reserve Bank of India's (RBI) holiday calendar under the Negotiable Instruments Act, banks observe closures based on local festivals, regional observances, and designated weekends. Both scheduled and non-scheduled banks follow this framework.
Are Banks Open Today?
As per RBI's holiday under negotiable instruments act, banks will be closed in Kolkata. It means banks are open in other states across India.
Will Online Banking Work on These Holidays?
Despite physical branches being closed on these 12 days, customers will still be able to access essential services through digital banking platforms. UPI, IMPS, net banking, and mobile banking apps will remain functional for money transfers, bill payments, and other transactions. Customers are advised to plan their bank visits in advance to avoid any last-minute inconveniences.
Bank Holidays In May 2025 (State-wise)
May 1 (Thursday) – Labour Day / Maharashtra Day: Banks will be closed in Belapur, Bengaluru, Chennai, Guwahati, Andhra Pradesh, Telangana, Imphal, Kochi, Kolkata, Mumbai, Nagpur, Panaji, Patna, and Thiruvananthapuram.
May 9 (Friday) – Rabindranath Tagore Jayanti: Banks in Kolkata will remain closed.
May 12 (Monday) – Buddha Purnima: Banks will be closed in Agartala, Aizawl, Belapur, Bhopal, Dehradun, Itanagar, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar.
May 16 (Friday) – State Day: Bank holiday in Gangtok.
May 26 (Monday) – Birthday of Kazi Nazrul Islam: Banks in Agartala will be closed.
May 29 (Thursday) – Maharana Pratap Jayanti: Bank holiday in Shimla.
In addition, regular weekly closures include all Sundays (May 4, 11, 18, and 25) and the second and fourth Saturdays (May 10 and 24).
First Published:
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
28 minutes ago
- Economic Times
When half your paycheque becomes the EMI: A Rs 50 lakh package can buy a flat, but can it buy peace of mind?
Synopsis On paper, a Rs 50 lakh annual salary may seem enough for a Rs 1.5 crore flat. In practice, the numbers don't stretch that far. Wealth advisor Alok Tiwari's calculations show that nearly half of the take-home pay would go into monthly instalments, leaving little for daily living costs. Financial guidelines and housing affordability data back his warning. While banks may be willing to lend, the risk of being overextended is real. TIL Creatives Representative AI Image A Rs 1.5 crore home loan at an interest rate of about 8.5% over 20 years means an EMI between Rs 1.2 and Rs 1.3 lakh each month. Alok Tiwari, a wealth advisor, broke down the problem in plain numbers.'EMI for 1.5Cr will be 1.2L pm. A 50L CTC makes 2.75L pm. Deduct rents, school fees, insurance, school bus, petrol, car cost, misc, groceries, utilities, vacation etc. Now from the leftover savings divide with 1.5cr,' Tiwari wrote on concern is clear. A Rs 50 lakh annual package translates to about Rs 2.75 lakh a month in hand. Almost half of that vanishes into the loan repayment, before accounting for the many other unavoidable costs of family such a loan might pass bank scrutiny. The Reserve Bank of India allows lenders to extend loans up to half of a borrower's income. But most advisors, and many banks themselves, caution against stretching beyond 40% of take-home pay for housing this case, 40% of Rs 2.75 lakh works out to roughly Rs 1.1 lakh. The EMI required is closer to Rs 1.29 lakh, already breaching that threshold. That gap signals stress, not comfort. The affordability question is not new. Knight Frank's 2025 report on housing shows that, on average, Indian buyers commit 28% of their income to EMIs. But the picture changes dramatically across cities. In Mumbai, the ratio climbs to 48%, a level already seen as risky. In contrast, Ahmedabad and Kolkata remain more affordable, with EMIs consuming 18% to 23% of commitments inch close to half of what a household earns, it squeezes everything else. School fees, groceries, fuel, insurance, travel, and even small savings start to feel post touched a nerve because it describes a common dilemma. Salaries in many urban sectors have risen, and home loans have become accessible. Yet the real question is not whether a bank will say yes, but whether the borrower can live comfortably afterwards.A Rs 50 lakh salary, under present benchmarks, does not comfortably support a Rs 1.5 crore home. The risk is not just of repaying the bank, but of sacrificing financial flexibility. Buyers may end up house-rich but cash-poor. Disclaimer: This article is based on a user-generated post on social media. has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of Reader discretion is advised.


Mint
2 hours ago
- Mint
IndiGo and IDFC FIRST Bank roll out co-branded credit card. See details here
BusinessWire India/ANI: IndiGo and IDFC FIRST Bank announced the launch of the IndiGo IDFC FIRST Credit Card, which is a one-of-a-kind card that combines the benefits of both Mastercard and RuPay networks through a single application. This partnership shows a shared commitment to delivering value, convenience, and everyday benefits to customers. The credit card enhances travel experiences with lifestyle privileges, low forex markup, attractive trip cancellation cover, and accelerated rewards on IndiGo flight bookings, milestone spends, and everyday purchases. With this launch, IndiGo further strengthens the IndiGo BluChip loyalty program portfolio, offering customers more ways to earn IndiGo BluChips through everyday spends -- making every transaction count towards their next flight. This launch underscores IDFC FIRST Bank's vision of building a world-class bank, driven by a Customer First philosophy and powered by a modern digital and technology stack. The IndiGo IDFC FIRST Credit Card has been designed to offer unmatched accessibility, with an FD-backed option that makes this premium dual-network product practically assured to everyone, while maintaining responsible credit risk practices. >> Dual-Network Card Pair >> Comes as a two-card offering - Mastercard and RuPay issued under a single application, ensuring broad acceptance across domestic, international, and UPI transactions >> Low forex markup of just 1.49 per cent The IndiGo IDFC FIRST Credit card allows customers to earn free flights faster with earnings across daily spends. In the first year, they also enjoy additional Bonus vouchers of up to 8,000 IndiGo BluChips depending on their card type. Speaking about the launch, Shirish Bhandari, Head, Credit Cards, Tolls and Transit and Loyalty, said, 'With the IndiGo IDFC FIRST Credit Card, we're making premium travel accessible to all -- not just a few. This is more than just a credit card; it's a bold step toward democratising travel and financial empowerment by allowing every Indian -- regardless of credit history -- to own the same world-class product, through a flexible application journey that includes both traditional and Fixed Deposit-backed access.' Speaking on the development, Rajeeth Pillai, Chief Relationship Management, NPCI said, 'The card's UPI-enabled functionality allows users to link their RuPay credit card to a UPI ID, enabling seamless and secure transactions. It also works seamlessly across POS and e-commerce platforms, offering users flexibility and wider acceptance.' Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
&w=3840&q=100)

Business Standard
3 hours ago
- Business Standard
Re 1 rise in UPI value trims debit card use by 14 paise: SBI Report
A Re 1 increase in transaction value on the Unified Payments Interface (UPI) has led to a reduction of 14 paise in debit card transaction value between 2021 and 2025, according to a State Bank of India (SBI) Research report. 'It has been observed through time-series analysis from January 2021 to May 2025 that a Re 1 increase in UPI transactions actually reduces the value of debit card transactions by 14 paise,' the report noted. This comes at a time when UPI has solidified its dominant position in India's digital payments ecosystem and is gradually replacing debit card usage. The share of UPI in retail demand for money—covering both UPI transactions and debit card ATM withdrawals—has increased from 40 per cent in November 2019 to 62 per cent in January 2021. By May 2025, this share had surged to 91 per cent, underscoring UPI's growing role in replacing cash, the report added. In January 2021, UPI recorded 2.07 billion transactions, processing Rs 3.86 trillion in value. By May 2025, the volume grew sixfold to 18.67 billion transactions, amounting to Rs 25.08 trillion, according to data from the National Payments Corporation of India (NPCI). In FY21, the volume of debit card transactions stood at 4.02 billion, worth Rs 6.62 trillion. This figure has decreased by nearly a quarter in volume, dropping to 1.61 billion transactions with a total value of Rs 5 trillion, according to data from the Reserve Bank of India (RBI). The report also highlighted that state-owned banks were the leading remitter members, while private sector banks were primarily the beneficiary members. The State Bank of India (SBI) topped the list of remitter banks with 5.2 billion UPI transactions, followed by HDFC Bank with 1.5 billion and Bank of Baroda with 1.3 billion in July 2025. Yes Bank led the beneficiary banks with 7.9 billion UPI transactions, followed by SBI at 1.96 billion and Axis Bank at 1.94 billion in the same month. Maharashtra leads the UPI landscape in India with a 9.8 per cent share of total UPI payments, followed by Karnataka at 5.5 per cent and Uttar Pradesh at 5.3 per cent.