Saturday Bank Holiday: Are Banks Open Or Closed On March 29? Details Here
Bank holidays vary from state to state, as each region celebrates different festivals or observes events at different times of the year.
The current financial year (FY25) is drawing to a close but not without a few regular closures, as announced in the Reserve Bank Of India’s holiday calendar. Banks are busy formalising their transaction ahead of the March 31 deadline.
Banks across the Union territory of Jammu and Kashmir will remain closed today on account of Jumat-al-Vida which is the final Friday in the month of Ramadan before Eid ul-Fitr.
With so much happening in the last few days of March 2025, there’s a state of confusion over the holiday in the remaining days of the month.
Bank holidays are categorised into three broad types according to the RBI bank holiday calendar — holidays under the Negotiable Instruments Act, Real Time Gross Settlement Holidays, and Banks' Closing of Accounts. Bank holidays are based on the RBI calendar.
Bank holidays vary from state to state, as each region celebrates different festivals or observes events at different times of the year.
Will Banks Remain Open On Saturday, March 29?
According to the RBI, banks remain closed on the second and fourth Saturdays of a month as well as on all Sundays. However, this year, March has five Saturdays.
Since March 29 is the fifth Saturday of the month, banks will remain open on this day across the majority of states.
It is also important to note that March 30 falls on a Sunday, which means that banks will be closed on this day.
Will Banks Remain Open On Monday, March 31?
As per the RBI holiday calendar for banks, March 31 has been declared a holiday for most banks across India on the occasion of Eid ul-Fitr.
However, in February 2025, the RBI asked all agency banks to remain open on March 31 to ensure that all financial reports are up to date. Agency banks refer to banks that handle government transactions. The RBI’s decision aims to aid accurate accounting for all transactions done within the fiscal year 2024-2025.
The following banking services will be available on March 31:
Tax payments such as income tax, GST, customs, and excise duties.
Disbursement of government salaries and allowances
Payment of pension and subsidies
Payments related to government schemes
