Bank Holiday: Big news for bank customers. Often, we tend to schedule our essential banking tasks for the end of the week, but what happens if you arrive at the bank only to find it closed for a holiday? If you have significant banking plans for the upcoming two days, specifically March 13 and 14, this information is crucial for you.
According to the Reserve Bank of India (RBI) calendar, bank operations will be impacted for two consecutive days this week. On one hand, banks in Mizoram will be closed due to a special festival, while on the other hand, the second Saturday of the month will halt banking activities nationwide. Are banks in your city open? How can you ensure your important transactions are completed during these holidays? In this article, we will delve into the complete banking holiday schedule and share some clever strategies to simplify your tasks.
March 13 (Friday): Holiday in just one state
All banks throughout the country will be operational on March 13th, but banking services will be unavailable only in Mizoram. March 13th is the date of Chapchar Kut, a significant festival in Mizoram. This celebration is tied to the agricultural customs of the area and occurs after the challenging phase of shifting cultivation (forest clearing).
March 14 (Saturday): Nationwide bank closure
On March 14th, which is the second Saturday of the month, banks across the country will be closed. As per RBI guidelines, banks are closed on the second and fourth Saturdays of each month. Thus, all banks in India will be shut on March 14th for the Second Saturday.
What will happen to banking?
Banks may be physically closed, but in the digital age, you don’t have to worry. Net banking and mobile banking services are available 24×7. You can transfer funds (NEFT/IMPS/RTGS) from the comfort of your home. UPI and ATM services will continue as usual, so that you do not face shortage of cash. If you wish to drop off a check, you can do so in the drop box located outside the bank. However, it will only be processed on Monday, March 16th.
The month of March is full of festivals and holidays. Therefore, before visiting any bank branch, be sure to check the list of holidays for your state on the RBI website. This will not only save you time but also save you from having to make frequent trips to the bank.
