Exclusive: RBI Announces March Bank Holidays - Know the Details
The Reserve Bank of India (RBI) has announced multiple bank holidays in March for various religious reasons. Bank customers are advised to check these lists to avoid any inconveniences caused by closures due to traditional Islamic observances and other significant religious events.
Highlights
- •- Residents must note down the RBI-listed bank holiday calendar before Shab-e-Qadr, Gudi Padwa, and Eid al-Fitr days for timely planning.
- •- Customers are advised to access digital banking services like net banking as counter transactions may be unavailable on those days.
- •- The March 19th celebration (Gudi Padwa / Ugadi) affects major northern cities including Belapur, Mumbai, Bangalore, Chennai, and Hyderabad, impacting several businesses heavily.
- •- Employees should also monitor other notable holidays in the last week of March for business continuity.
The Reserve Bank of India has announced a series of bank holidays for March 2023. These include traditional Islamic observances and religious festivals, affecting certain regions differently.
Clients should check the list to avoid inconvenience when banks are closed on various regional holidays.
Banks will be closed for bank holiday in states like Imphal, which observes Shab-e-Qadr day as a sacred Islamic observance. This holiday marks Laylatul Qadr and people engage in nighttime prayers throughout this special night.
The list also covers significant religious days such as Gudi Padwa / Ugadi, Eid al-Fitr, and Ram Navami. These holidays impact banking across different parts of the country, affecting operations in various cities according to RBI's release.
Banks will remain closed on bank holiday days including March 17 (Shab-e-Qadr), March 19 (Gudi Padwa / Ugadi), and March 20 (Eid al-Fitr). The calendar ensures that digital banking services are accessible, while counter transactions may still be unavailable for some operations.
Customers should check the RBI release to stay informed about the specific holidays affecting their locations. While Friday, March 22 is a Sunday and all banks will be closed due to the festive day off, the last week of March includes other significant holidays impacting both banking operations and major festivals.
