RBI Directs Banks To Remain Open On March 31 For Year-End Transactions
RBI Directs Banks To Remain Open On March 31 For Year-End Transactions
The Reserve Bank of India (RBI) has announced that all agency banks will remain open on March 31, 2025, to ensure accurate financial reporting for the financial year 2024–25. Despite the day being a public holiday in many states, banks must operate to facilitate the proper accounting of government transactions.
Previously, March 31 was designated as a holiday due to Ramzan-Id (Id-Ul-Fitr) in most states except Himachal Pradesh and Mizoram. However, the RBI has now mandated banks to stay open to avoid discrepancies in year-end financial statements.
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12778&Mode=0
On this day, key services such as government tax payments (including Income Tax, GST, and Customs duties), pension disbursements, and other government-related transactions will be available. Digital banking services like online and mobile banking are also expected to function normally.
Meanwhile, banks will remain closed on April 1, 2025, in most states, except for a few like Meghalaya and West Bengal, for the annual account closure process.
