According to the Reserve Bank of India’s holiday schedule, banks will be closed for 13 days in the month of March 2022. Mahashivratri and Holi are two prominent festivities that will take place in March.
Holi, one of India’s major festivals, falls on March 18, 2022, and banks across the country will be closed, with certain exceptions. Banks will also be closed in various states on March 1, 2022, to commemorate Mahashivratri.
Bank holidays are implemented in accordance with a schedule published by the Reserve Bank of India (RBI). The number of vacations this month has been set at seven by the central bank, according to a list. The weekend leaves are the only ones left. This contains all of the month’s Sundays, as well as the second and fourth Saturdays. On the first and third Saturdays of each month, banks remain open. The list of holidays provided by the RBI is divided into three groups. These are state-wide events, religious holidays, and festival celebrations.
The RBI categorises holidays as either national or regional. On national holidays, all banks in India are closed, whereas, on regional holidays, branches in select states remain closed.
It should be mentioned that the Reserve Bank of India categorises its 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.
Check out the list of upcoming holidays in March 2022:
March 1 (Tuesday): Banks in Gujarat will be closed on the occasion of Mahashivratri.
March 3 (Thursday): Because Losar falls on this day, banks in Sikkim will be closed.
March 4: (Friday): Banks in Mizoram will be closed due to Chapchar Kut.
March 17: Thursday: Banks in Uttarakhand, Uttar Pradesh, and Jharkhand will be closed to commemorate Holika Dahan.
March 18: (Friday): Banks will be closed in Karnataka, Orissa, Tamil Nadu, Manipur, and Tripura due to the Holi celebration.
March 19: (Saturday): Due to Holi/Yaosang, banks in Orissa, Manipur, and Bihar will be closed.
March 22: (Tuesday): Banks in Bihar will be closed to commemorate the Bihar Divas.
Banks are also closed on the second and fourth Saturdays of each month. And on every Sunday of the month.
List of Saturdays and Sundays as Holidays:
Sunday: March 6, 2022
Second Saturday: March 12, 2022
Sunday: March 13, 2022
Sunday: March 20, 2022
Fourth Saturday: March 26, 2022
Sunday: March 27, 2022
Meanwhile, banks in India were closed for 12 days in February 2022. Saraswati Puja/Shree Panchami/Basant Panchami and Chhatrapati Shivaji Maharaj’s Jayanti were two major celebrations in the month.
Bank customers should arrange their visits properly, as bank closures may affect customers who need to physically visit a branch; therefore, it is critical to be aware of the holiday dates in advance. During this time, ATMs and online banking services will remain operational.
