Bank holiday today: Are banks open or closed on 1 April? All you need to know

Bank holiday today: Banks in several parts of India will remain closed on Wednesday, April 1, to enable them to close their yearly accounts. The holiday applies in major cities such as Ahmedabad, Mumbai, New Delhi and Kolkata.

The bank holiday today is scheduled as part of the Reserve Bank of India (RBI) bank holiday calendar, which is released at the beginning of every year. According to the RBI calendar, April has a total of 14 holidays.

The annual closing on 1 April is a routine process during which banks reconcile and finalise their financial statements for the previous fiscal year. As a result, many branches suspend customer-facing operations for the day to allow staff to complete accounting procedures and prepare for the new financial year.

Under RBI guidelines, all scheduled and non-scheduled banks suspend operations pan-India on gazetted public holidays, as well as on the second and fourth Saturdays of every month and all Sundays.

Banks shut in these Indian cities today — full list

Bank holidays usually differ from region to region, depending on the festivals and other occasions celebrated in each area. However, in this case, the closure is being observed in most parts of the country due to financial year-related closing, a routine banking process carried out nationwide.

On Wednesday, 1 April, banks will remain shut in most cities across India. Banking operations will only continue as usual in Aizawl, Gangtok, Kohima, Ranchi, Shillong, Shimla will remain functioning, according to the RBI calendar.

When is the next bank holiday?

The next bank holiday will fall on 2 April, when banks across a few cities will remain closed due to the occasion of Maundy Thursday. The holiday applies to Kochi and Thiruvananthapuram.

Will online banking remain accessible on bank holiday?

People are advised to check with their local bank branches for exact holiday applicability. Meanwhile, essential banking services remain operational nationwide despite the physical branch closures.

If you need cash urgently or need to send money on a bank holiday, it is possible. ATM services continue to operate around the clock, including bank holidays. To send money on a bank holiday, online banking services such as NEFT, IMPS, and RTGS are also available.

Apart from this, you can also use UPI services on bank holidays to send and receive money as they are functional on all days. Bank holidays only suspend banking operations that require a physical visit to the branch, such as encashing a cheque.