Banks In Several States To Remain Shut On Account Of Good Friday

Banks will remain open today only in Tripura, Assam, Rajasthan, Himachal Pradesh, Jammu, and Srinagar

Bank holidays in India are delineated under the State Government, Central Government, and Union Territories Act of 1881.

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Banks in several states will remain closed on March 29 in observance of Good Friday. Throughout March 2024, banks nationwide will be shut for a total of 14 days, as outlined in the Reserve Bank of India's (RBI's) holiday schedule. These closures encompass all Sundays, the second and fourth Saturdays, public holidays, and various regional holidays.

The RBI has classified these holidays under the Negotiable Instruments Act, Real-Time Gross Settlement Holidays, and Banks' Closing of Accounts. Notably, banks will remain operational today only in Tripura, Assam, Rajasthan, Himachal Pradesh, Jammu, and Srinagar.

In April, bank employees will also have the benefit of a long weekend as banks are also scheduled to remain closed for a total of 14 days due to both national and regional holidays. These holidays are finalised based on festivals specific to regions, in addition to general weekend holidays. The general holidays are applicable for all banks across the country.

Banks To Remain Open On March 31, 2024 For Government Transactions

To ensure the complete recording of government revenues and expenditures for the fiscal year 2023-2024, the Government of India has urged all bank branches responsible for handling government transactions to remain operational on March 31, 2024, which falls on a Sunday. It was announced by the Reserve Bank of India on March 21, 2024, instructing all agency banks to ensure that their specified branches remain operational during regular working hours on March 30 and March 31, 2024, to facilitate over-the-counter transactions concerning government transactions.

However, digital services such as mobile banking, UPI, and Internet banking would continue to operate normally and be available to customers throughout India. Customers would be informed of any additional changes to the bank schedule in advance.

Bank holidays in India are delineated in accordance with the State Government, Central Government, and Union Territories Act of 1881. The RBI issues a comprehensive bank holiday schedule for the entire year, which is adhered to by all banks across the country.