Mumbai: The Reserve Bank of India (RBI) has instructed all bank branches to remain open on 31st March 2025. This decision applies to all Public Sector Undertaking (PSU) banks handling government transactions. The RBI's goal is to ensure that financial transactions for the financial year 2024-2025 are completed correctly.
Why 31st March Was Traditionally a Holiday?
Normally, 31st March is considered a holiday due to the celebration of Eid (Id-Ul-Fitra) during Ramadan. The RBI had declared it a holiday for most states, except in Himachal Pradesh and Mizoram. However, the government has now ordered banks to remain open on this day to ensure the proper settlement of financial transactions.
Services Available on 31st March
On 31st March, banks will continue to offer essential services such as:
- Government tax payments (Income Tax, GST, Custom Duty, Excise Duty, etc.)
- Government salary and allowance distribution
- Payments related to government schemes and subsidies
These services will be available throughout the day on 31st March, despite it being a holiday due to Eid celebrations.
Banks Closed on 1st April in Most States
Most banks will be closed on 1st April 2025, as per the usual holiday schedule. This closure will affect most states and Union Territories across the country. However, banks in a few states will remain open. These states include Meghalaya, Chhattisgarh, Mizoram, West Bengal, and Himachal Pradesh.
Digital Banking Services Will Continue
Customers who prefer to use digital banking services such as mobile banking, online fund transfers, and government tax payments will not face any disruptions. These services will continue to be available for users, allowing them to carry out necessary financial transactions without concern.
For any further updates, customers are advised to check with their respective bank branches.
