Maharashtra Day observed on May 1

Key facts

• Maharashtra Day is observed on May 1 to mark the formation of the state in 1960.
• The state was formed under the Bombay Reorganisation Act, 1960, which divided the Bombay State into Maharashtra and Gujarat along linguistic lines.
• The formation of the state followed the Samyukta Maharashtra Movement, a political push for a separate Marathi-speaking state.
• The occasion coincides with International Workers' Day and Buddha Purnima.
• A parade is organised at Shivaji Park, attended by government officials and dignitaries.
• The National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) remain closed on this day.
• Banks remain shut in accordance with Reserve Bank of India (RBI) guidelines.