Bank Holiday Today, February 28, For This Reason

Banks across India remain closed today, Saturday, February 28, as it is the fourth Saturday of the month, in accordance with the Reserve Bank of India (RBI) holiday calendar. All public and private sector banks, including State Bank of India (SBI), Punjab National Bank (PNB), ICICI Bank, and HDFC Bank, have suspended branch operations for the day.

The closure applies to physical branch services nationwide, and customers are advised to plan their banking activities accordingly to avoid inconvenience.

RBI Holiday Rules Explained

The Reserve Bank of India categorises bank holidays under three main classifications: holidays under the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays, and banks’ closing of accounts.

As per RBI guidelines, banks remain closed on the second and fourth Saturdays of every month, as well as on all Sundays. Branches, however, function normally on the first, third, and fifth Saturdays. The fourth Saturday holiday is recognised under the Negotiable Instruments Act, which regulates financial instruments such as cheques and promissory notes.

Online Banking Services Remain Unaffected

Despite branch closures, customers can continue to access online banking services without interruption. Facilities such as UPI payments, fund transfers, net banking, cheque book requests, and loan applications remain fully operational. ATMs and digital banking platforms also function as usual.

Also Read: Bank Holidays in March 2026: RBI List of Bank Closures