Bank holiday today: Are banks shut on May 24?
Banks across the country will remain closed today, on May 24, in observance of the fourth Saturday of the month.
According to the Reserve Bank of India's (RBI) official calendar, banks remain shut on every second and fourth Saturday.
Customers can verify whether banks are open or closed by checking the RBI's official website.
This holiday applies to all banks regulated by the RBI nationwide. Physical branch services such as cash deposits and withdrawals, account openings, cheque clearances, loan processing, approvals requiring manual intervention, and other documentation-related services will not be available today.
However, digital banking services remain operational. Customers can continue to use mobile banking apps, ATMs, and electronic payment systems like NEFT, RTGS, and IMPS to pay bills, transfer money, and carry out other transactions without interruption.
The RBI calendar also specifies regional bank holidays. Apart from weekends, upcoming holidays in May are:
May 26 on the occasion of the birthday of Nazrul Islam: Observed in Tripura
May 29 on the occasion of Maharana Pratap Jayanti: Observed in Himachal Pradesh
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
32 minutes ago
- Business Standard
Nifty ends tad above 25,100 level; PSU bank shares in demand
The key equity indices ended with modest gains today, extending their winning streak to a fourth session, supported by the Reserve Bank of Indias unexpected policy easing and upbeat global cues. The Nifty ended a tad above the 25,100 level. Barring the Nifty Realty index, all the other sectoral indices on the NSE ended in green. As per provisional closing data, the barometer index, the S&P BSE Sensex, added 256.22 points or 0.31% to 82,445.21. The Nifty 50 index rose 100.15 points or 0.40% to 25,103.20. In the past four trading sessions, the Sensex and Nifty advanced by 2.12% and 2.28%, respectively. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.03% and the S&P BSE Small-Cap index added 1.19%. The market breadth was strong. On the BSE, 2,809 shares rose and 1,395 shares fell. A total of 131 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.42% to 14.69. Economy: Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty PSU Bank rose 1.52% to 7,208.45. The index gained 2.3% in the two consecutive trading sessions. Bank of India (up 3.86%), Bank of Maharashtra (up 3.38%), Indian Bank (up 2.79%), Indian Overseas Bank (up 2.37%), Punjab National Bank (up 1.86%), Canara Bank (up 1.69%), Punjab & Sind Bank (up 1.56%), Union Bank of India (up 1.3%), Central Bank of India (up 1.26%) and State Bank of India (up 0.89%) advanced. Stocks in Spotlight: JSW Steel rose 0.24%. The company recorded consolidated steel production of 22.73 lakh tonnes in May 2025, which is higher by 8% as compared with the production volume of 20.98 lakh tonnes reported in May 2024. Mahindra & Mahindra (M&M) shed 0.52%. The company said that its total production jumped 27.56% to 89,626 units in the month of May 2025, compared with 70,261 units produced in the same period last year. HDFC Bank shed 0.01%. The bank said that the Mehta Family, throughthe Lilavatii Kirtilal Medical Trust, has filed an FIR against the bank and its MD and CEO Sashidhar Jagdishan in an attempt to thwart the recovery of the long outstanding loan dues owed to the bank. Persistent Systems added 1.98% after the companys board approved the reappointment of Dr. Anand Deshpande as the managing director (MD) of the company for the next term of 5 consecutive years. Multi Commodity Exchange of India (MCX) jumped 7.22% after the company said it received approval from the Securities and Exchange Board of India (SEBI) to launch electricity derivatives. Capri Global Capital surged 19.52% after the company launched the autopay facility for gold loans, eliminating the need for manual payments or branch visits. This new feature is designed to make gold loan repayments more convenient, secure, and hassle-free for customers. RailTel Corporation of India added 3.10% after the company announced that it has secured two significant work orders worth a total of Rs 259.07 crore from government entities in Bihar and Himachal Pradesh. Afcons Infrastructure added 2.65% after the firm received a letter of award (LoA) from Reliance Industries (RIL) worth Rs 700 crore for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat. Glenmark Pharmaceuticals rose 0.68%. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI). Larsen & Toubro (L&T) rose 0.69%. The company announced that its heavy civil infrastructure (HCI) vertical has secured a significant order from JSW Energy for the execution of the Bhavali pumped storage project (PSP) in the state of Maharashtra. Global Markets: European markets traded lower on Monday as global investors remained cautious ahead of the upcoming US-China trade talks, which are expected to take place in London. Asian stocks ended higher as investors awaited trade discussions between the United States and China and reviewed the latest economic data from China and Japan. China's consumer price index declined 0.1% year-on-year in May, unchanged from the previous month, according to government data released Monday. The producer price index fell 3.3% year-on-year, marking the sharpest decline in 22 months and following a 2.7% decrease in April. Japan's gross domestic product contracted 0.2% year-on-year in the JanuaryMarch quarter. While better than the preliminary estimate of a 0.7% decline, it reflected a reversal from 2.4% growth in the previous quarter. Reports indicated that China granted temporary approvals for rare earth exports, and Boeing resumed commercial aircraft deliveries to China. In the United States, equities closed higher on Friday following the release of nonfarm payroll data and news of upcoming trade talks. The US economy added 139,000 jobs in May, down from Aprils revised figure of 147,000. March payrolls were also revised lower to 120,000. Average hourly earnings increased by 0.1% on a monthly basis in May, resulting in a 0.4% annual pace, reflecting ongoing wage pressures. President Donald Trump stated that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet Chinese officials in London on Monday to discuss trade matters.
Time of India
an hour ago
- Time of India
Indian banks must urgently embrace AI, privacy technologies to comply with DPDP Act: Report
Indian banks must urgently adopt artificial intelligence (AI), privacy-enhancing technologies (PETs), and privacy-by-design strategies to effectively comply with the Digital Personal Data Protection Act (DPDPA), according to a report released by Protiviti. The report, titled "Navigating DPDPA in Banking: Compliance, Impact, and AI-Powered Strategies for Futureproofing", was unveiled at the 4th IBA CISO Summit 2025, hosted by the Indian Banks' Association. It highlighted that the regulatory and operational impact of DPDPA will be far-reaching, and banks must re-engineer their critical functions to align with privacy-by-design principles in order to meet the requirements of India's most comprehensive data protection law to date. The report offered sector-specific insights, guiding banks on how to harmonise DPDPA compliance with existing regulations issued by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). It also identified unique privacy risks for the banking sector, including algorithmic profiling, third-party data sharing, and challenges in managing customer consent. An operational playbook is presented to help banks integrate privacy-by-design principles across core functions such as Know Your Customer (KYC) and fraud detection, along with strategies to automate compliance efforts. Live Events Furthermore, the report highlighted the role of technology and AI in enabling scalable and efficient privacy solutions. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Protiviti noted that due to the volume and sensitivity of personal data handled, banks are likely to be classified as Significant Data Fiduciaries (SDFs) under DPDPA. This status brings enhanced obligations such as conducting Data Protection Impact Assessments (DPIAs), ensuring algorithmic transparency, performing regular data audits, and appointing a Data Protection Officer (DPO). The report advised that compliance should not be treated as a one-time project but rather approached through a risk-based, adaptive operating model that can evolve with emerging threats, regulatory developments, and technological advancements. It also encourages banks to embed AI wherever suitable to enhance operational efficiency and streamline privacy management. The report also pointed out the urgent need for stronger data governance, cross-functional accountability, and AI-driven privacy solutions within the banking sector. It stressed that regulatory alignment, customer trust, and digital innovation must move forward together. It also noted that the DPDPA will overlap with sector-specific guidelines from RBI and SEBI, adding new layers of compliance. For instance, existing RBI data retention rules will need to align with DPDPA's principles of data minimization and storage limitation, while breach reporting obligations must cater to both financial regulators and the new Data Protection Board of India.
The Hindu
an hour ago
- The Hindu
Rupee rises 4 paise to close at 85.64 against U.S. dollar
The rupee appreciated 4 paise to close at 85.64 (provisional) against the U.S. dollar on Monday (June 9, 2025), supported by a firm trend in domestic equities and foreign capital inflows. However, elevated global crude oil prices and the U.S. dollar against major rivals overseas restricted its rise, traders said. The rupee benefitted from the initial reaction to the RBI rate cut, but the aggressive rate cut narrows the interest rate differential with global peers, they added. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session. It opened at 85.61 and moved between a high of 85.45 and a low of 85.72 against the greenback. The local unit pared all its initial gains and settled in positive territory, 4 paise higher at 85.64 (provisional) against the American currency. On Friday (June 6, 2025), the rupee surged 11 paise to close at 85.68 against the U.S. dollar after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth. In the domestic equity market, the 30-share BSE Sensex surged 256.22 points, or 0.31%, to close at 82,445.21, while the Nifty rallied 100.15 points, or 0.40%, to 25,103.20. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.35% at 98.84. Brent crude, the global oil benchmark, rose 0.24% to $66.63 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth ₹1,009.71 crore on a net basis on Friday (June 6, 2025), according to exchange data.
