Bank Holidays In March 2024: Banks Will Be Closed For 14 Days, Check Complete Bank Holidays List Here

Bank Holidays In March 2024: Earlier we shared a list of bank holidays in February 2024. Now that March the third month of the new year is here, there's a new set of bank holidays to take note of. In March 2024, there are a total of 14 days when banks will be closed due to holidays. These include the second and fourth Saturdays and Sundays, public holidays, and some regional holidays. The holidays are decided by the Reserve Bank of India (RBI) and the respective state governments.?

The first holiday in March 2024 starts from the Chapchar Kut on March 1st and other holidays like Holi on March 25th banks will be observed holidays which apply to all banks in India except some states. These holidays may vary from state to state as holidays are determined keeping in mind the local festivals.

According to RBI guidelines, banks are closed on Sundays as well as on the second and fourth Saturdays of the month. Under the Negotiable Instruments Act, RBI has declared holidays on March 1, 8, 22, 25, 26, 27, and 29 Apart from this, there are five Sundays in the month falling on March 3,10,17, 24 and 31, and also on the second and fourth Saturdays on March 9 and 23.

According to the Reserve Bank's calendar, apart from the weekends, there are six bank holidays in March 2024. The central government divided the holidays into three categories, under the Negotiable Instruments Act, 1881.

Bank Holidays in March 2024 | Photo: Freepik

It's also advisable to plan any important bank-related work in advance, taking into consideration the holiday schedule.

Check out the state-wise list of bank holidays in March 2024:?

1. March 1, Friday - Chapchar Kut

Banks will be closed on Wednesday, March 1st on the occasion of Chapchar Kut in Mizoram.

2. March 3, Sunday - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 3 March 2024.

3. March 8, Friday - Mahashivratri (Maha vad-13)/Sivarathri

Banks remain closed across the country except in some states - Tripura, Mizoram, Tamil Nadu, Sikkim, Assam, Manipur, Itanagar, Rajasthan, Nagaland, West Bengal, New Delhi, Goa, Bihar, and Meghalaya.

4. March 9, Saturday -? Second Saturday of the month

All the banks across the country remain closed on the second Saturday of the month on 9 March 2024.

5. March 10, Sunday - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 10 March 2024.

6. March 17, Sunday - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 17 March 2024.

7. March 22, Friday - Bihar Divas

Banks will observe a holiday in Bihar on the occasion of Bihar Divas.

8. March 23, Saturday - Fourth Saturday of the month

All the banks in the country remain closed on the fourth Saturday of the month on 23 March 2024.

9. March 24, Sunday - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 24 March 2024.

10. March 25, Monday - Holi (Second Day) - Dhuleti/Dol Jatra/Dhulandi

Banks across the country will be closed on the occasion of Holi/Dhuleti/Dol Jatra/Dhulandi except, Karnataka, Odisha, Tamil Nadu, Manipur, Kerala, Nagaland, Bihar, and Srinagar

11. March 26, Tuesday - Yaosang 2nd Day/Holi

Banks remain closed in Odisha, Manipur, and Bihar on the occasion of Yaosang 2nd Day/Holi.

12. March 27, Wednesday - Holi?

Banks will be closed due celebration of Holi in Bihar on March 27.

13. March 29, Friday - Good Friday

Banks will remain closed across the country on the occasion of Good Friday except in Tripura, Assam, Rajasthan, Jammu and Kashmir, and Himachal Pradesh.

14. March 31, Sunday - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 31 March 2024.

No bank holiday on Sunday, March 31st

The Indian Government wants all branches of banks that handle government money to stay open for transactions on March 31, 2024, which is a Sunday and also the last day of the financial year FY23. They want this so that they can record all the government's money activities for the FY 2023-24 properly. They've told these special banks, called Agency Banks, to make sure all their branches dealing with government stuff are open on that Sunday.

The government also wants these banks to tell everyone that they're open on that Sunday so people can use their services.

The Reserve Bank of India (RBI), the country's central bank, said, "The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) so as to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself. Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday)..... Banks shall give due publicity about the availability of above banking services on this day."

This decision shows that the government is serious about making money transactions smooth and following the rules on time.

By keeping these special banks open on Sunday, the government wants to make sure they can handle government money matters quickly and properly, which helps in managing public money well.

As per the RBI rules, there are three categorised holidays and they are as follows:

1. Holiday under the Negotiable Instruments Act

2. Holiday under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday

3. Banks' Closing of Accounts

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