No Mahavir Jayanti Bank Holiday: Banks to Stay Open on March 31
Even though Mahavir Jayanti is recognized as a public holiday in several states and Union Territories, banks handling government transactions will operate as usual on March 31, 2026 (Tuesday). The decision has been taken to ensure that all financial activities related to the closing of the fiscal year 2025–26 are completed without delays.
RBI Issues Directive to Agency Banks
In an official notification, the Reserve Bank of India (RBI) stated that the Government of India has requested agency banks to keep their branches open for public dealings on March 31. The move is intended to facilitate the smooth processing of government receipts and payments before the financial year concludes.
Agency banks are financial institutions authorized to perform banking services on behalf of the government. Their responsibilities typically include collecting taxes, distributing pensions, and handling other official payments. Keeping these branches operational will help ensure that all government accounts are properly settled within the same financial year.
Additionally, the central bank has instructed lenders to widely inform customers about the availability of banking services on that day so that individuals and businesses can plan their transactions accordingly.
Holiday in Several States, But Banks to Function
According to the RBI holiday schedule, banks were initially expected to observe a holiday for Mahavir Jayanti in multiple regions, including:
- Gujarat
- Maharashtra
- Karnataka
- Madhya Pradesh
- Tamil Nadu
- Rajasthan
- Uttar Pradesh
- West Bengal
- Bihar
- Chhattisgarh
- Jharkhand
- New Delhi
However, due to the financial year-end requirements, branches dealing with government business will remain open despite the holiday.
Stock Market Holiday on March 31
While banks will function, the Indian stock markets will not operate on March 31 in observance of Mahavir Jayanti. Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have listed the day as a non-trading holiday.
March is set to have multiple market holidays, totaling 12 non-trading days, which include weekends along with festival closures.
Other Market Holidays in March
Apart from Mahavir Jayanti, trading will also be suspended on the following occasions:
- Holi
- Ram Navami
What Customers Should Know
Customers who need to complete government-related transactions—such as tax payments or official deposits—can visit designated bank branches on March 31 despite the public holiday. At the same time, investors should plan, as stock market activities will remain paused for the day.
The temporary adjustment highlights the importance of completing financial formalities before the fiscal year ends, ensuring accurate accounting for both individuals and government institutions.
