Banks and Stock Markets Shut on May 1 Across India

On May 1, banking services and stock market operations across India will remain closed due to multiple national and regional observances. Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will suspend trading activities for the day, including equities and commodities.

All public and private sector bank branches will also remain shut, impacting in-person services such as cash deposits, withdrawals at branches, and other offline transactions. However, customers can continue using digital platforms like UPI, internet banking, mobile banking, and ATMs without disruption.

The nationwide holiday is being observed on account of Buddha Purnima and Labour Day (May Day). Buddha Purnima commemorates the birth, enlightenment, and nirvana of Lord Gautama Buddha, while Labour Day recognizes the contributions and rights of workers worldwide. Additionally, Maharashtra Day marks the formation of the state in 1960.

The day also coincides with the birth anniversary of Pandit Raghunath Murmu, the creator of the Ol Chiki script for the Santali language, which is celebrated in several regions.

Due to the banking holiday, settlement of stock market transactions conducted prior to May 1 may be processed on the next working day.

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