Eid 2025 Bank Holiday: Are Banks Open Or Closed On March 31?

Branches involved in government receipts and payments will remain open until their usual closing hours, and special clearing operations will be conducted for government cheque collections

This decision ensures that taxpayers can complete their year-end filings without any hindrance

Source : Bank Holidays

Banks across the country will remain open to handle essential transactions On March 31, 2025, which has been designated as a public holiday in India due to Eid-Ul-Fitr. The Reserve Bank of India (RBI) has instructed agency banks managing government business to operate on this day. This directive is aimed at assisting taxpayers and ensuring the smooth functioning of financial operations as the fiscal year comes to a close.

Branches involved in government receipts and payments will remain open until their usual closing hours, and special clearing operations will be conducted for government cheque collections. These arrangements are coordinated by the RBI’s Department of Payment and Settlement Systems.

Originally, banks were scheduled to remain closed in most Indian states, except for Himachal Pradesh and Mizoram, on account of the Eid-Ul-Fitr holiday. However, understanding the need for uninterrupted financial services at the end of the fiscal year, the RBI introduced special provisions to keep select branches open for essential transactions. This decision underscores the central bank’s commitment to maintaining seamless financial operations, especially in areas where government-related business is vital.

Tax Department

The Income Tax Department has taken proactive measures to ensure that tax-related activities continue smoothly during the year-end period. A press release dated March 26, 2025, announced that all Income Tax Offices across India will remain operational on March 29, 30, and 31.

"The Financial Year 2024-25 closes on 31st March, 2025 (Monday), which is a Closed Holiday. Further, 29th March, 2025 is a Saturday and 30th March, 2025 is a Sunday. Therefore, to facilitate completion of pending departmental work, all the Income Tax Offices throughout India shall remain open on 29th, 30th and 31st March, 2025. This direction is issued for administrative convenience by the Central Board of Direct Taxes in exercise of powers conferred under section 119 of the Income-tax Act,1961,” the statement read.

This decision ensures that taxpayers can complete their year-end filings without any hindrance. Taxpayers are encouraged to finalise their transactions early to avoid last-minute issues.

While these arrangements provide convenience, it is advisable for individuals and businesses to plan ahead. The extended banking hours and special clearing services are designed to ease the pressure of last-minute filings, but proactive efforts will enhance the effectiveness of these measures. The coordinated actions of the RBI, Income Tax Department, and IRDAI demonstrate a unified approach to managing financial operations during this significant public holiday, ensuring that essential services remain accessible.

IRDAI

The Insurance Regulatory and Development Authority of India (IRDAI) has also directed insurance companies to keep their offices open on March 29, 30, and 31. This directive aims to prevent any inconvenience to policyholders and ensure uninterrupted insurance services during the financial year-end.

By maintaining operations during this period, the IRDAI seeks to support the timely processing of insurance policies and claims, reflecting a coordinated effort across financial sectors to uphold service standards despite the public holiday.