Mumbai, March 24: The Reserve Bank of India (RBI) has mandated that all agency banks handling government transactions stay open on March 31, 2025, despite it being a public holiday in most parts of the country. This move is intended to facilitate the seamless completion of financial transactions for the 2024-25 fiscal year before the deadline.

The Reserve Bank of India (RBI) stated that the Government of India has requested banks to remain open on March 31 to ensure smooth processing of government-related transactions, including tax payments, pension disbursements, and other fiscal year-end activities. Originally, March 31 was declared a bank holiday in most states, except Aizawl and Shimla, due to Ramzan-Id (Id-Ul-Fitr). However, the RBI has now directed all agency banks to stay operational. Banks will also issue public notices to inform customers about service availability on that day. Bank Holidays in 2025: From Festivals to National Holidays and More, Check Complete List of Bank Holiday Dates for Upcoming Year.

Banks will operate on March 31 but will remain closed on April 1, 2025, in most states for annual account closing. However, branches in Meghalaya, Chhattisgarh, Mizoram, West Bengal, and Himachal Pradesh will stay open. Gazetted Holidays 2025 Full Calendar: Check Public and Bank Holiday Dates for Central and Government Office in India.

To facilitate seamless fiscal year-end transactions, the RBI has directed banks to remain open on March 31, ensuring the smooth processing of tax payments, pensions, and other government-related transactions. Although banks were initially set to close on this date, they will now operate as per the updated schedule. Customers are advised to stay informed about the revised bank holidays for March and April 2025.

(The above story first appeared on LatestLY on Mar 24, 2025 11:56 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).