Banks to remain shut for 13 days in March
Hyderabad: March is when a lot of financial dealings are done, and March this year could spell trouble if those transactions are not well planned in advance, what with banks to remain closed for 13 days. Out of the 13 holidays, seven are as per the calendar of the Reserve Bank of India, and the […]
Hyderabad: March is when a lot of financial dealings are done, and March this year could spell trouble if those transactions are not well planned in advance, what with banks to remain closed for 13 days.
Out of the 13 holidays, seven are as per the calendar of the Reserve Bank of India, and the others are as per regional festivities or public holidays in different States. The 13 days are not applicable for all banks across the country with differences in each State.
While on March 1 and March 18, banks will remain closed in various States of the country due to Mahashivratri and Holi, On March 3, banks in Gangtok of Sikkim will be closed on account of Losar. The next day, Chapchar Kut will be celebrated in Aizawl in Mizoram, leading to closure of bank branches there.
On March 17, bank branches in a few States will remain closed on the occasion of Holika Dahan. Some cities will keep bank branches closed on March 19, due to Holi festivities. On March 22, bank branches in Patna will remain closed due to Bihar Diwas.
Apart from these days, the other holidays are on Saturdays and Sundays.
The RBI has classified the holidays into three categories—Holiday under Negotiable Instruments Act, Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday and Banks’ Closing of Accounts.
All bank branches, including the public and private sectors, foreign banks, cooperative banks, and regional banks, will be closed on these designated holidays.
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