Bank Holidays In March 2023: Banks Will Remain Closed For 12 Days; Check Complete Bank Holidays List Here

Earlier we shared a list of bank holidays in February 2023. 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 2023, there are only 12 days when many private and public sector banks will remain closed due to bank holidays including weekends. Banks will be shut for 12 days in March 2023 including the second and fourth Saturdays and Sundays as per the Reserve Bank of India (RBI) guidelines.?

Banks will be closed on all public holidays with some regional holidays, depending on the particular state. Regional holidays are decided by the respective state governments; they are not mentioned on RBI's official website.?

Reuters

The month of March 2023 observes 12 bank holidays and the first holiday starts from the Chapchar Kut on 3rd March and other holidays like Gudi Padwa/Ugadi Festival/Bihar Divas on 22 March banks will be observed holidays which are applicable to all banks in India except some states.

People will not face any problems with bank-related work as holidays are not frequent or are at short intervals; ATMs, cash deposits, online banking and mobile banking will continue to function. 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 3, 7, 8, 9, 22 and 30 Apart from this, there are four Sundays in the month falling on March? 5,12,19, and 26, and also on the second and fourth Saturdays on March 11 and 25.

According to the Reserve Bank's calendar, apart from the weekends, there are six bank holidays in March 2023. The central government divided the holidays into three categories, under the Negotiable Instruments Act, 1881.

Those who have to complete important work related to the bank in March, should see the list of holidays and plan their work in advance.

Check out the state-wise list of bank holidays in March 2023:?

1. March 3: (Friday) - Chapchar Kut

Banks remain closed Friday, 3 March 2023 in Mizoram on the occasion of Chapchar Kut. Chapchar Kut is the most important festival of the Mizo people. The association of this festival is also related to nature like other festivals of India. Actually, there is a different type of farming in tribal areas which is called Jhum farming. In this method of farming, forests and vegetation are first cut and burnt, then the same land is cultivated, when the crop is harvested from this land, then leaving that land fallow, the next time it is cultivated on another land.

The Mizo caste of Mizoram also does this jhum cultivation. There are mainly bamboo forests here, so these people cut these bamboos and cultivate them at the same place. During this time these people celebrate the 'Chapchar Kut' festival.

2. March 5 (Sunday) - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 5 March 2023.

3. March 7 (Tuesday) - Holi/Holi (Second Day)/Holika Dahan/Dhulandi/Dol Jatra

BCCL

Bank branches remain closed on Tuesday, 7 March 2023 on the occasion of Holika Dahan in Navi Mumbai, Uttarakhand, Assam, Hyderabad - Telangana, Rajashthan, Jammu & Kashmir, Uttar Pradesh, West Bengal, Mumbai, Nagpur, Goa, Jharkhand. The festival of Holika Dahan is celebrated a day before Holi. This festival is one of the important festivals for Hindus in India. Holika Dahan has been celebrated in many parts of India as well as Nepal. This festival is also seen as the victory of good over evil. According to the Hindu calendar, this festival is celebrated on the full moon date of the month of Falgun. On this day people make Holika made of wood and cow dung and burn it and pray to God for the fulfilment of their wishes. This day assures people that if they worship God with a sincere heart, then God will definitely listen to their prayers and will protect all his devotees from all kinds of troubles.

4. March 8: (Wednesday) - Dhuleti/Doljatra/Holi/Yaosang 2nd Day

Banks will be closed on Wednesday, 8 March 2023 across the country on the occasion of Dhuleti/Doljatra except Navi Mumbai, Karnataka, Tamil Nadu, Assam, Rajasthan, Jammu & Kashmir, Kerala, West Bengal, Mumbai, Nagpur, Goa. Holi is an important festival celebrated in the spring, especially in India and Nepal. According to the Indian Hindu calendar, this festival is celebrated every year on the full moon date of the month of Phalgun. A festival of colours, Holi is celebrated for three days - Holika Dahan is celebrated on the first day, followed by Dhulendi (Rang Holi) and Rang Panchami. The excitement, however, starts to build at least a week before the actual festival.

The Festival of Yaosang is one of the major festivals of Manipur also celebrated on the same day of Holi this year. The festival of Yaosang is celebrated by different communities in many parts of India. Its five-day long festival is celebrated on the full moon day of the month of Lamta (February-March), at the same time as the Holi celebration. But not just with colours, the festival is celebrated with singing, dancing, and many other traditional performances. Yaosang is celebrated with high spirits by the young and the old, irrespective of their gender and age. This festival represents the celebration of love amongst children, adults and people of all ages.

5. March 9: (Thursday) - Holi

Banks will be closed on Thursday, 9 March 2023 in Bihar on the occasion of Holi.

6. March 11 (Second Saturday of the month) - Weekend Bank Holiday

All the banks across the country remain closed on the second Saturday of the month on 11 March 2023.

7. March 12 (Sunday) - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 12 March 2023.

8. March 19 (Sunday) - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 19 March 2023.

9. March 22 (Wednesday) - Gudi Padwa/Ugadi Festival/Bihar Divas/Sajibu Nongmapanba (Cheiraoba)/Telugu New Year's Day/1st Navratra

On March 22 2023, Wednesday banks will be closed on occcasions of Gudi Padwa/Ugadi Festival/Bihar Divas/Sajibu Nongmapanba (Cheiraoba)/Telugu New Year's Day/1st Navratra in? Karnataka, Maharashtra, Tamil Nadu, Telangana, Manipur, Jammu, Goa, Bihar and Jammu & Kashmir due to Gudi Padwa, Ugadi Festival, Telugu New Year's Day, Sajibu Nongmapanba (Cheiraoba).

10. March 25 (Fourth Saturday of the month) - Weekend Bank Holiday

All the banks in the country remain closed on the fourth Saturday of the month on 25 March 2023.

11. March 26 (Sunday) - Weekend Bank Holiday

Banks across the country will be closed on their weekly off on Sunday, 26 March 2023.

12. March 30 (Thursday) - Shree Ram Navami (Chaite Dashain)

Banks will remain closed on occasion of Shree Ram Navami in Gujarat, Maharashtra, Madhya Pradesh, Odisha, Punjab, Haryana, Uttarakhand, Sikkim, Hyderabad - Telangana, Rajasthan, Uttar Pradesh, Bihar and Himachal Pradesh.

Here is the complete list of Bank Holidays in 2023:

Bank Holidays 2023 in India state-wise:

Bank Holidays 2023 month-wise

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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