Bank Holiday: Are Banks Open or Closed on 31st March for Mahavir Jayanti 2026?
Despite Mahavir Jayanti being a public holiday in several cities, the RBI has directed all agency banks to remain open on March 31. This mandate ensures that government transactions and taxpayer filings are completed before the fiscal year ends. While digital services remain active, customers should check with local branches for non-government services.
New Delhi, March 30: As the financial year 2025–26 draws to a close, millions of taxpayers and businesses are looking to complete pending transactions before the March 31 deadline. However, this year's closing day coincides with Mahavir Jayanti, a major gazetted holiday marking the birth anniversary of Lord Mahavir. While Mahavir Jayanti is a scheduled holiday in several Indian states and cities, the Reserve Bank of India (RBI) and the Ministry of Finance have issued specific directives to ensure that essential banking services remain operational on this critical financial date.
Special Directives for Year-End Closing
In a move to facilitate government accounting and taxpayer convenience, the RBI has directed all branches of agency banks to remain open for over-the-counter transactions on Tuesday, March 31. This mandate overrides the standard Mahavir Jayanti holiday for most commercial and public sector banks. Bank Holidays March 30-April 5: Banks To Remain Closed for 5 Days Next Week; Check Details.
The decision ensures that government receipts and payments, including tax collections through the Goods and Services Tax (GST) and Income Tax portals, are processed within the current fiscal year. Customers can expect branches to remain open during regular working hours, though some states may observe a partial holiday for non-essential administrative staff.
City-Wise Variations and Exceptions
While the federal directive applies to all agency banks handling government business, some private and cooperative banks in specific regions may still observe Mahavir Jayanti as a holiday for the general public banking. Cities where Mahavir Jayanti has been declared a public holiday by the RBI include Ahmedabad, Belapur, Bhopal, Chennai, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur and Ranchi.
In the above regions, while the "Government Business" desks will remain active, services like cheque clearances, new account openings, or locker access may be restricted or unavailable. Customers are advised to check with their local branch or use mobile banking apps for routine tasks.
Digital Banking and ATM Availability on March 31
Regardless of the physical branch status, all digital banking platforms will remain fully functional throughout March 31. This includes:
- RTGS and NEFT: The RBI has confirmed that Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems will be operational 24/7, even on holidays, to facilitate year-end settlements.
- IMPS and UPI: Instant payment services like UPI will continue to work without interruption.
- ATMs: Banks have been instructed to ensure adequate cash loading in ATMs to handle the expected surge in withdrawals during the holiday period. Bank Holidays in April 2026: Full State-Wise List of Holiday Dates.
Impact on the Financial Calendar
The overlap of the fiscal year-end and Mahavir Jayanti has created a unique "working holiday" scenario. Since April 1 is also a traditional bank holiday for the "Annual Closing of Accounts," banks will be closed to the public on Wednesday, April 1. Consequently, March 31 represents the final opportunity for physical banking in the 2025–26 session. Taxpayers aiming to claim deductions under Section 80C or clear outstanding dues are encouraged to complete their transactions online or visit branches early in the day to avoid the last-minute rush.
(The above story first appeared on LatestLY on Mar 30, 2026 09:51 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).