The Reserve Bank of India (RBI) has announced a crucial update regarding the bank holiday on Eid-ul-Fitr scheduled for March 31, 2025. Initially, banks were supposed to remain closed for the festival, but RBI has now canceled the holiday to facilitate financial year-end transactions.
Why Was the March 31 Bank Holiday Canceled?
According to the new RBI circular, all banks will remain open on March 31 to ensure that all government transactions related to the financial year closing can be completed without disruption. However, while banks will be open, customers will not have access to regular banking services, meaning in-person banking transactions will not be available.
Previously, the RBI’s holiday calendar had listed March 31 as a holiday for Eid in several states, but due to its importance in closing financial accounts, the decision was revised.
Taxpayers Benefit from the Holiday Cancellation
To assist taxpayers with financial year-end tax transactions, the Income Tax Department has also announced that all income tax offices across the country will remain open from March 29 to March 31. This allows individuals and businesses to complete their tax-related obligations without any delays.
Which States Will Have Bank Holidays on April 1?
Although banks will remain open on March 31, April 1 will still be a bank holiday in some parts of India. However, banking services will continue to operate in Chhattisgarh, Mizoram, Meghalaya, Himachal Pradesh, and West Bengal on that day.
Additionally, banks will observe multiple holidays throughout April 2025, with a total of 15 days of bank closures in different states.
How to Access Banking Services on March 31?
Since in-person banking services will not be available on March 31, customers can use digital banking services to carry out essential transactions, including:
✔ UPI Payments – Instant fund transfers via mobile apps.
✔ Internet Banking – Online transactions and bill payments.
✔ Mobile Banking Apps – Access to banking services without visiting a branch.
✔ ATM Services – Cash withdrawals from ATMs.
If you have any critical banking tasks, ensure they are completed beforehand or use alternative digital banking methods for uninterrupted financial activities.
