Why Some Banks Are Still Open on March 31?

Mar 31, 2026, 08:51 IST

March 31, 2026, marks the celebration of Mahavir Jayanti, one of the most important religious festivals for the Jain community. On this occasion, several institutions across India—including schools, banks, post offices, and government offices—observe a holiday in many states.

However, this year comes with an important exception that affects banking services nationwide.

Banks on March 31: Holiday with Exceptions

While March 31 is officially listed as a bank holiday in multiple states due to Mahavir Jayanti, not all banking operations are completely shut.

The Reserve Bank of India (RBI) has issued a directive requiring all agency banks—banks that handle government-related transactions—to remain open on this day.

This decision ensures that crucial financial activities tied to the closing of the financial year are completed without delay.

Why Are Some Banks Open?

March 31 is the last day of the financial year 2025–26, making it a critical date for government accounting. All receipts, payments, and financial records must be finalized before the new fiscal year begins on April 1.

To facilitate this, the Government of India requested the RBI to keep designated bank branches operational. As a result, only specific branches dealing with government business are open, while regular banking services may remain limited or unavailable.

States Where Banks Were Originally Closed

Banks were scheduled to remain closed in several states due to the festival, including:

Gujarat
Maharashtra
Tamil Nadu
Rajasthan
Uttar Pradesh
West Bengal
Delhi
Bihar
Chhattisgarh
Jharkhand

Despite the holiday in these regions, RBI’s directive overrides the closure for selected branches.

What Are Agency Banks?

Agency banks are financial institutions authorized by the RBI to conduct transactions on behalf of the central and state governments. These typically include:

Public sector banks
Select private sector banks

Only designated branches of these banks handle government receipts and payments, especially during critical periods like the financial year-end.

Will Regular Banking Services Be Available?

Customers should note that:

Only government-related transactions are being handled
Regular services like deposits, withdrawals, and customer support may be limited
Online banking services continue to function as usual

Also read: Ram Charan’s Peddi Faces Delay Buzz, Fans Await Clarity