Bank holiday today: Are banks open or closed on 31 March for Mahavir Jayanti? All you need to know

Bank holiday today: Banks in several parts of India will remain closed on Tuesday, 31 March, on the account of Mahavir Jayanti. 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, March had a total of 18 bank holidays, including today, which marks the final holiday of the month.

Bank holidays in India vary by state and are based on local festivals and observances. As a result, bank closures are not uniform across the country. While branches in select cities will shut on the occasion of Mahavir Jayanti, others may continue to operate.

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.

Hence, on the occasion of Mahavir Jayanti, banks will be shut in Ahmedabad, Belapur, Chennai, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, and Ranchi.

Mahavir Jayanti is celebrated to mark the birth of Lord Mahavir, the 24th and last Tirthankara of Jainism. It is one of the most important festivals in Jainism and inspires followers to lead a life of peace, self-discipline, and righteousness.

On this day, devotees celebrate the day by visiting temples, offering prayers, participating in processions, and reflecting on Mahavir’s principles of moral and spiritual upliftment.

When is the next bank holiday?

The next bank holiday will fall on 1 April, when banks across several cities will remain closed to enable them to close their yearly accounts at the end of the financial year.

This annual closure allows banks to complete their accounting processes, reconcile transactions, and prepare their financial statements for the new fiscal year beginning April 1, in line with guidelines issued by the RBI.

Will online banking remain accessible on bank holiday?

Individuals 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's possible. ATM services operate around the clock, including bank holidays. To send money on a bank holiday, online banking services such as NEFT, IMPS, and RTGS are available.

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