March 2025 bank holidays: RBI has directed all agency banks handling government transactions to remain operational on March 31, 2025 (Monday), despite it being a holiday in several states. This measure ensures accurate financial reporting for FY 2024-25 by recording all transactions within the same period.
According to an ET report, previously, March 31, 2025, was designated as a holiday across most states, except Himachal Pradesh and Mizoram, due to Ramzan-Id (Id-Ul-Fitr).
The RBI directive ensures proper accounting of all government-related financial activities, including receipts and payments, within financial year 2024-25, concluding on March 31, 2025.
“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, 2025 (Monday-Public Holiday) so as to account for all the Government transactions relating to receipts and payments in the Financial Year 2024-25 itself. Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2025 (Monday),” said RBI.
March 31 signifies the financial year’s conclusion, requiring completion of all government revenue, payments and settlements before the new fiscal year commences.
Available banking services on March 31, 2025, include:
- Government tax payments, including Income Tax, GST, Customs, and Excise duties
- Pension payments and government subsidies
- Disbursement of government salaries and allowances
- Public transactions related to government schemes and subsidies
It’s important to note that most banks will remain closed on April 1st (Monday) across Union Territories and states, excluding Meghalaya, Chhattisgarh, Mizoram, West Bengal, Himachal Pradesh for annual account closing as per RBI guidelines.
Government-related online and mobile banking services, such as tax payments and fund transfers, should remain accessible. Customers should ideally consult their respective banks for specific guidance.
