No bank Holiday on March 31

The Reserve Bank of India (RBI) has directed all agency banks to be open on March 31, 2025, even though it is a bank holiday throughout the nation, except for Aizawl and Shimla, which will be observing Ramzan-Id (Id-Ul-Fitr). This has been done so that all government-related financial transactions are settled before the beginning of the new fiscal year.

Why March 31 is Important

March 31 is the government's financial year end, and hence all government revenue, payment, and settlement transactions have to be finalized before the commencement of the new financial year. The receipt and transaction logs are utilized for government records and taxes later during the year.

RBI's Directive

In a notification issued by the RBI, the central bank informed that the Government of India has asked all bank branches handling government receipts and payments to be open on March 31, 2025. The RBI has instructed all agency banks to keep their branches handling government business open on this date.

Facilitating Smooth Financial Transactions

The RBI's instruction is to ensure that all government financial transactions are done smoothly and without any irregularities. The RBI, by keeping agency banks open on March 31, is trying to uphold the efficiency and integrity of government financial transactions.

Banks to Give Publicity

The RBI has also directed banks to give due publicity to the fact that banking services are available on March 31, 2025. This will make the customers aware of the banking services provided on this date.

Also read: Tamil Nadu School Holidays in March 2025; 11 Days Off