March 31 Bank Holiday Cancelled: RBI Directs Banks to Remain Open on Ramadan

The Reserve Bank of India (RBI) has withdrawn the bank holiday on March 31, 2025, to facilitate the smooth processing of year-end financial closures. This action will help promote greater banking activity, including the completion of accounts and financial statements, on the closing day of the financial year.

Earlier, the banks were to remain closed on March 31 except in Mizoram and Himachal Pradesh on Ramzan-Id (Eid-Ul-Fitr) day. But with the new RBI directive, banks will now remain open on March 31 to handle year-end financial transactions.

Banking Services on Offer on March 31

On March 31, 2025, the following bank services shall be available:

• Government Tax Payments: Income Tax, GST, Custom, Excise duties
• Pension Payments and Government Subsidies
• Disbursement of Government Wages and Allowances
• Internet banking, SMS, and WhatsApp banking services can be utilized by registered bank customers for financial and non-financial transactions on March 31 and April 1, 2025.

Other Significant Dates

29 March: Not a bank holiday since it is the fifth Saturday of the month.
April 1: Banks in all states and Union Territories except Meghalaya, Chhattisgarh, Mizoram, West Bengal, and Himachal Pradesh will remain closed.

Income Tax Department and IRDAI Announcements

The Income Tax Department has stated that all Income Tax Offices throughout India will be open on March 29, 30, and 31 to enable the timely clearance of outstanding work. Analogously, the Insurance Regulatory and Development Authority of India (IRDAI) has directed insurance companies to keep their offices open on March 29, 30, and 31 so that policyholders are not put to any inconvenience.

Also read: March 31, April 1: Eid-ul-Fitr Holidays for Schools in Hyderabad