The Reserve Bank of India (RBI) has issued a calendar in which it has mentioned the dates on which the banking operations will remain closed in March. Along with five festival holidays, banks in the country will also remain shut on 4 Sundays and 2 Saturdays, making the total holidays 11 days. However, people need to note that bank holidays will vary in various states and are sometimes not observed by all the banking companies. The holidays also depend on the festivals being observed in a particular state.
The country’s apex bank places its holidays under three categories: Holiday under Negotiable Instruments Act, Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday Banks’ Closing of Accounts.
Those who have postponed their work related to the banking sector for March must look at the dates mentioned in the calendar to plan accordingly. Here is the list of bank holidays for March 2021 for your reference:
March 5: Banks will remain closed on account of the celebration of Chapchar Kut (MIZORAM)
March 11: Due to Mahashivratri celebrations, banking operations will be halted (NATIONAL)
March 13: Being the second Saturday, Banks will remain closed for the day (NATIONAL)
March 22: The day is observed as Bihar Day (BIHAR)
March 27: Banks will remain closed due to the fourth Saturday (NATIONAL)
March 29, 30: Banks will remain closed on these two days due to Holi celebrations.
A two-day strike has been announced by the apex body of nine bank employee union (UFBU) from March 15 to protest against the proposed privatization of two public sector banks. However, there is no update regarding if the banks will remain closed on these two days or not.
To avoid difficulties and rush, customers are advised to plan their work related to the bank accordingly. However, they can also use internet banking to do all banking transactions and other things.