Are banks open or shut on 31 March for Mahavir Jayanti?

Banks remained closed in several parts of India on Tuesday, 31 March, on account of Mahavir Jayanti. The holiday was observed in major cities such as New Delhi, Mumbai, Ahmedabad and Kolkata, in line with the annual calendar issued by the Reserve Bank of India.

RBI calendar and March holidays

The bank holiday was part of the RBI’s yearly holiday schedule, which outlines closures across states based on festivals and official observances. March had a total of 18 bank holidays, including this final holiday of the month.

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Bank holidays in India are not uniform. They vary across states depending on regional festivals. While branches in several cities remained shut on Tuesday, others continued normal operations.

As per RBI guidelines, all scheduled and non-scheduled banks remain closed on gazetted public holidays, along with the second and fourth Saturdays and all Sundays.

Cities where banks are closed today

On account of Mahavir Jayanti, banks were shut in multiple cities including Jaipur, Lucknow, Patna, Raipur, Ranchi, Nagpur, Chennai, Kanpur and Belapur, among others.

Why Mahavir Jayanti is observed

Mahavir Jayanti marks the birth anniversary of Lord Mahavir, the 24th and last Tirthankara in Jainism. The festival holds significant importance for followers of Jainism.

Devotees typically visit temples, offer prayers, and take part in processions. The day also emphasises values such as non-violence, self-discipline, and spiritual growth.

When is the next bank holiday?

The next bank holiday falls on 1 April. Banks in several cities will remain closed to complete their year-end accounting processes.

This annual closure allows banks to reconcile transactions and prepare financial statements for the new financial year, as per RBI norms.

Will online banking work?

While physical branches remain closed, digital banking services continue to operate.

Customers can withdraw cash from ATMs. Online platforms such as NEFT, IMPS and RTGS remain functional. UPI services are also available for fund transfers.

However, services that require a branch visit, such as cheque clearance or in-person documentation, remain unavailable during the holiday.