Mahavir Jayanti Holiday Cancelled by RBI, Know why
Reserve Bank Cancels Mahavir Jayanti Bank Holiday, All banks will remain open: The Reserve Bank of India (RBI) has cancelled the holiday for Mahavir Jayanti. In most states of the country, banks are usually closed on Mahavir Jayanti. However, this will not be the case this year. Mahavir Jayanti falls on March 31st. The RBI has cancelled the holiday for Mahavir Jayanti, and banks will remain open throughout the country on March 31st.
Why was the holiday canceled? The government wants all government transactions related to the financial year 2025-26 to be completed on time. March 31st is the last day of the financial year. Therefore, the government requested that banks handling government business remain open on this day. Following this request, the RBI has instructed all agency banks that all branches handling government transactions will remain open on March 31, 2026.
According to the RBI’s annual holiday calendar, banks were scheduled to be closed on March 31, 2026, in several states due to Mahavir Jayanti. These states included Gujarat, Maharashtra, Karnataka, Madhya Pradesh, Tamil Nadu, Rajasthan, Uttar Pradesh, West Bengal, Delhi, Bihar, Chhattisgarh, and Jharkhand. However, banks will now remain open in these states as well.
What are the benefits for ordinary customers?
Tax payments
Government fees
Pension and subsidy-related transactions
Transactions related to government accounts
All of these will not be delayed. Banks remaining open on the last day of the year will make it easier to complete pending tasks.
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