Bank holiday on Eid (31 March 2025): Eid-ul-Fitr, which marks the end of Ramadan, is on Monday, March 31, this year. Also, March 31 marks the last day of the current financial year 2024-25, which is the deadline for all financial transactions of the current financial year. Initially, the Reserve Bank of India (RBI) had, in its holiday calendar, declared March 31 as a bank holiday across the country except for Himachal Pradesh and Mizoram, on observance of Ramzan-Id (Id-Ul-Fitr) (Shawal-1)/Khutub-E-Ramzan. However, it later took the decision to cancel the bank holiday on the date to ensure that banks across the country remain operational during this critical period for year-end financial transactions.
The unexpected change is intended to minimize potential disruptions during the critical year-end closure processes. As a result, financial institutions will have to now modify their schedules accordingly to handle increased transaction volumes and meet customer demands. The RBI’s decision highlights the need to sustain operational efficiency during a period traditionally marked by heightened banking activity and crucial financial reconciliations.
Now on April 1, banks across the country, with the exception of Aizawl, Raipur, Shillong, Shimla, will remain closed for the annual account closing as mandated by the RBI.
Are banks closed on March 28?
On March 28, which marks the Jumat-ul-Vida, the last Friday of Ramadan, banks will remain shut in the Union Territory of Jammu and Kashmir. Furthermore, the banks will remain operational on March 29, which is the fifth Saturday of the month.
As per RBI’s directions, all scheduled and non-scheduled banks observe public holiday on second and fourth Saturdays.
What banking services are available during bank holidays?
During bank holidays, customers can still use ATMs, mobile banking, online banking, and bank apps for daily transactions, unless a bank sends specific notification regarding maintenance timings or technical issues.
All bank websites, banking apps, UPI, and ATM services remain active throughout the year otherwise.