🏦 Bank Holiday Update: RBI Cancels Mahavir Jayanti Leave — Banks to Remain Open

Balasahana Suresh
The Reserve bank of india (RBI) has announced a major update to the bank holiday schedule for March 31, 2026 — a day that was earlier listed as a bank holiday for Mahavir Jayanti in several states. The central bank has now cancelled that holiday, and banks will remain open to the public on that day, especially for government‑related transactions.

🔄 Why the Holiday Was Cancelled

  • Mahavir Jayanti — a prominent religious festival — was originally marked as a bank holiday in areas including Gujarat, Maharashtra, Karnataka, tamil Nadu, Uttar Pradesh, West Bengal, Bihar, Rajasthan, Jharkhand, madhya pradesh and New Delhi.
  • However, the Government of India requested that banks — particularly those handling government receipts and payments — remain open on march 31, 2026, so that all financial year‑end transactions for FY 2025‑26 could be processed and accounted for within the same fiscal year itself.
  • Acting on this request, the RBI has directed agency banks (banks authorized to handle government business) to keep their branches operational on that date despite it being a holiday in some regions.
📍 What This Means for banking Services

✅ Branches Will Be Open

Banks that manage government transactions — such as tax payments, government receipts, pension payments and public services — will remain open on 31 March 2026 (Tuesday). This ensures that key financial operations tied to the fiscal year’s end can be completed without interruption.

📣 Public Transactions Also Supported

Customers can typically conduct in‑person transactions at these branches on that day. Banks have also been instructed to widely publicise the availability of services so that individuals and businesses know that branches will be operational despite the earlier holiday designation.

📊 What’s Not Affected

  • Digital banking services (like mobile banking, UPI, net banking, ATMs) continue to function normally regardless of branch‑level holidays or closures.
  • Regular bank holiday schedules for other dates and regional observances (like Good friday or Independence Day) remain unchanged as per the RBI’s yearly calendar.
🗓️ Quick Context: bank Holidays in India

India’s bank holiday calendar — issued annually by the RBI — includes a mix of national, regional, and religious holidays. These bank holidays typically vary by state and union territory, with common closures on festivals such as Good friday, Eid, Diwali, and important observances like Independence Day.

However, the cancellation of the Mahavir Jayanti bank holiday on march 31, 2026 is an exceptional administrative measure designed to facilitate year‑end financial operations rather than a permanent change to holiday norms.

📌 Key Takeaways

  • RBI has cancelled the Mahavir Jayanti bank holiday scheduled for March 31, 2026.
  • Banks will remain open on that day — particularly branches that handle government transactions — to ensure all fiscal year‑end financial business is completed.
  • This change helps ensure timely accounting of government receipts and payments within the financial year 2025‑26.
  • Digital banking services are unaffected by branch‑specific holiday changes.
 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

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