Bank Holiday On Holi 2024: Banks Will Be Closed In These States On Monday, March 25

Holi Bank Holiday 2024: In March 2024, during the colourful festival of Holi in India, banks in several states will be closed on Monday, March 25. This closure is part of the celebrations for Holi's second day, known as Dhuleti, Dol Jatra, or Dhulandi. In March 2024 banks remain closed for 14 days. Let's find out which states are taking part in this holiday and what it means for banking.

Bank Holiday on Holi 2024 in These States

On Monday, March 25, banks will be closed in many states to mark the festivities of Holi. People in Tripura, Gujarat, Mizoram, Maharashtra, Madhya Pradesh, Jammu, Sikkim, Arunachal Pradesh, Rajasthan, Chandigarh, Uttara Khand, Andhra Pradesh, Bengal, Telangana, Meghalaya, Uttar Pradesh, Chhattisgarh, Jharkhand, and Himachal Pradesh will enjoy a day off. In addition, places like Bhubaneswar, Imphal, and Patna will also have banks closed on Tuesday, March 26, for Yaosang 2nd Day/Holi.

March brings a long weekend for many, with Sunday, Monday, and Tuesday forming a continuous break, making it a perfect time for celebrations and relaxation.

Upcoming Bank Holidays in March 2024

The festivities continue beyond Holi. On Tuesday, March 26, banks in Orissa, Manipur, and Bihar will remain closed for Yaosang 2nd Day/Holi. Bihar will have another bank closure on Wednesday, March 27. Additionally, on Friday, March 29, banks in most states except Tripura, Assam, Rajasthan, Himachal Pradesh, Jammu, and Srinagar will be closed for Good Friday.

List of bank holidays in March 2024:

1. On March 1st, which falls on a Friday, banks in Mizoram will be closed for Chapchar Kut celebrations.
2. Sunday, March 3, 2024, will be a weekend bank holiday, meaning banks all over the country will be closed.
3. On Friday, March 8, for Mahashivratri (also known as Maha vad-13 or Sivarathri), banks will be closed in most parts of the country except for some states like Tripura, Mizoram, Tamil Nadu, Sikkim, Assam, Manipur, Itanagar, Rajasthan, Nagaland, West Bengal, New Delhi, Goa, Bihar, and Meghalaya.
4. Saturday, March 9, is the second Saturday of the month, which means banks nationwide will remain closed on this day.
5. Sunday, March 10, 2024, marks another weekend bank holiday, with banks closed across the country.
6. Similarly, on Sunday, March 17, 2024, banks will be closed nationwide as part of their weekly off.
7. On Friday, March 22, banks in Bihar will observe a holiday in celebration of Bihar Divas.
8. Saturday, March 23, 2024, being the fourth Saturday of the month, will see all banks in the country closed.
9. March 24, 2024, falls on a Sunday, marking another weekend bank holiday with closures nationwide.
10. On Monday, March 25, banks throughout the country will be closed for the celebration of Holi's Second Day, known as Dhuleti, Dol Jatra, or Dhulandi, except in Karnataka, Odisha, Tamil Nadu, Manipur, Kerala, Nagaland, Bihar, and Srinagar.
11. On Tuesday, March 26, banks will remain closed in Odisha, Manipur, and Bihar for Yaosang 2nd Day/Holi.
12. Wednesday, March 27, 2024, will see banks closed in Bihar in observance of Holi celebrations.
13. On Friday, March 29, banks nationwide will be closed for Good Friday, except in Tripura, Assam, Rajasthan, Jammu and Kashmir, and Himachal Pradesh.

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