Are Banks Open Or Closed On March 31: Mahavir Jayanti, also known as Mahaveer Janma Kalyanak, is being observed on March 31. On account of the festival, schools, banks, post offices and government offices in several
cities across India are closed.
However, the Reserve Bank of India (RBI) has directed all agency banks—those that handle government transactions—to remain open on March 31, 2026, despite the holiday in many states.
In a notification dated February 3, 2026, the RBI said the Government of India had requested that all branches dealing with government receipts and payments remain operational to ensure that all transactions are accounted for within the financial year 2025–26. Accordingly, agency banks have been instructed to keep such branches open on the day.
Was March 31 a pan-India bank holiday?
Banks were scheduled to remain closed in several states due to Mahavir Jayanti. However, following the RBI’s directive, branches of agency banks handling government business are functioning on March 31.
Where were banks originally closed?
Banks were to remain shut in states including Gujarat, Maharashtra, Tamil Nadu, Rajasthan, Uttar Pradesh, West Bengal, Delhi, Bihar, Chhattisgarh and Jharkhand for the festival.
Branches that are open today are likely to handle only government-related transactions.
What are agency banks?
As per the RBI, agency banks are institutions authorised under Section 45 of the RBI Act to carry out banking transactions on behalf of the government. These include all public sector banks and select private sector banks. Only designated branches are permitted to handle such government business.
Do agency banks get compensated?
Yes. The RBI pays these banks a fee—known as agency commission—for managing central and state government transactions.
Why is March 31 important?
March 31 marks the end of the financial year. All government receipts, payments and accounting entries must be completed before the new fiscal year begins, making it a critical date for such transactions.
Digital banking remains available
Online and mobile banking services, including tax payments and fund transfers, are expected to remain operational. Customers are advised to check with their respective banks for any specific guidelines.
