Labour Day 2024: Banks Closed? All You Need To Know

Labour Day holds a significant place globally, tracing its roots back to the historic Haymarket affair in the US in 1886. However, in India, its prominence grew notably in 1923. May 1st, commonly known as May Day, not only commemorates the contributions of workers but also heralds the arrival of spring in Europe, symbolizing fertility and vitality.

As for its observance in India, Labour Day is recognized as a public holiday, with its inaugural celebration dating back to May 1, 1923, in Chennai, organized by the Labour Kisan Party of Hindustan. Banks across various states including Maharashtra, Karnataka, Tamil Nadu, Assam, Andhra Pradesh, Telangana, Manipur, Kerala, Bengal, Goa, and Bihar will remain closed in honor of this occasion.

The day serves as a tribute to the tireless efforts of workers and the labor movement, advocating for fair wages, improved working conditions, and social justice.

In India, Labour Day is celebrated under various names across different states, such as Kamgar Din, Karmikara Dinacharane, Karmika Dinotsavam, Kamgar Divas, Uzhaipalar Dhinam, Thozhilaali Dinam, and Shromik Dibosh, reflecting its diverse cultural significance.

This public holiday extends beyond banks to include the closure of schools and government offices. Moreover, Maharashtra Day, coinciding with Labour Day, commemorates the formation of the state on May 1, 1960. Equity markets will also be closed in observance of this occasion.

While Labour Day is celebrated with fervor in India, its significance resonates globally, observed as an official holiday in numerous countries, including Australia, Canada, China, Taiwan, the United States, Turkey, Trinidad and Tobago, Poland, Pakistan, New Zealand, Macau S.A.R, Kazakhstan, Japan, and Jamaica, among others.