Bank Holiday Today: Are Banks Open or Closed This Saturday, February 28, 2026?
Bank Holiday Today: Banks across India will remain closed this Saturday, February 28, 2026, as it is the fourth Saturday of the month. According to RBI guidelines, all public and private sector branches observe holidays on the second and fourth Saturdays. While physical branches are shut, digital services like UPI, IMPS, and ATMs will remain fully functional.
Mumbai, February 28: Bank customers across India should prepare for a pause in physical branch services (bank holiday today) this weekend. As Saturday, February 28, 2026, marks the fourth Saturday of the month, all public and private sector banks nationwide will remain closed. This scheduled bank holiday, mandated by the Reserve Bank of India (RBI), will be followed by the standard Sunday holiday on March 1, resulting in a two-day shutdown for brick-and-mortar banking operations.
Why Are Banks Closed Today, February 28?
In 2015, the RBI implemented a uniform holiday policy for all scheduled commercial banks in India. Under these regulations:
- Banks are closed on the second and fourth Saturdays of every month.
- Banks remain open on the first, third, and fifth Saturdays (if applicable).
- All Sundays are designated holidays.
Because February 28 is the fourth Saturday of the month, it falls under the mandatory holiday category. This closure applies to major lenders including the State Bank of India (SBI), HDFC Bank, ICICI Bank, and Punjab National Bank (PNB). Bank Holidays in March 2026: Full State-Wise List of Holiday Dates.
Available Services vs. Paused Operations
While physical branches will be inaccessible, the digital banking infrastructure in India ensures that most essential financial tasks can still be completed. Stock Market Holidays March 2026: Full List and Holiday Dates.
What stays functional:
- Mobile and Net Banking: Users can transfer funds via IMPS, NEFT, and RTGS (though some high-value RTGS transfers may see slight processing delays depending on the bank).
- UPI Payments: Digital payment platforms like GPay, PhonePe, and Paytm will operate normally for merchant and P2P transfers.
- ATMs: Cash withdrawal and deposit machines will remain operational, though customers are advised to withdraw cash early in case of high demand over the weekend.
What is paused:
- In-branch Transactions: You cannot deposit or withdraw cash at a counter.
- Cheque Clearing: Cheques dropped in boxes on Friday evening or Saturday will not be processed until the next working day, Monday, March 2.
- Locker Access: Safety deposit lockers cannot be accessed during bank holidays.
March Bank Holidays
As the financial year draws to a close, March 2026 is expected to feature several regional holidays in addition to the standard weekend breaks. Major festivals such as Holi and Eid-ul-Fitr are slated for early and mid-March, which may lead to consecutive closures in various states.
(The above story first appeared on LatestLY on Feb 28, 2026 05:37 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).