Bank Holiday: The Eid-ul-Fitr festival falls on March 31, which coincides with the final working day of the financial year 2024-25. This overlap has led to confusion among many regarding the operational status of banks on that day (Bank Holiday On March 31). If you have important banking tasks to attend to, it is advisable to read this information carefully. We will clarify whether banks will be operational on March 31 (Banks Open Close on 31 March).
Banks are expected to be closed in nearly all states
On the occasion of Eid, banks are expected to be closed in nearly all states on March 31 (Bank Holiday On Eid). However, banking services will remain available in Himachal Pradesh and Mizoram. Notably, the Reserve Bank of India (RBI) has mandated that all agency banks involved in government transactions will operate on this day.
Given that March 31 marks the end of the financial year, it is crucial for many banking-related tasks to be completed. The RBI’s directive aims to prevent any delays or errors in government payments, tax processing, and financial record-keeping.
Banks will be closed on April 1
While banks will be closed on April 1 due to the financial year-end (Last Working Day of FY 2024-25), some states, including Meghalaya, Chhattisgarh, Mizoram, West Bengal, and Himachal Pradesh, will still offer banking services. If you have urgent banking matters, it is essential to verify whether your bank will be open on March 31.
Most states will see banks closed, but those handling government payments will remain operational. Additionally, banking services will be disrupted on April 1 due to the financial year closing. Therefore, it is prudent to complete your banking tasks in advance to avoid any potential inconveniences.