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Bank Holiday Update: All Agency Banks to Remain Open on March 31 Despite Eid – Know Why RBI Issued This Order

Indiaemploymentnews | February 15, 2025 2:39 PM CST

The Reserve Bank of India (RBI) has directed all agency banks to remain open on March 31, 2025, despite it being a public holiday in many states due to Eid ul-Fitr. This special directive has been issued to ensure the completion of all government-related financial transactions before the new financial year (FY 2025-26) begins.

Why Will Banks Remain Open on March 31?

March 31 is the last day of the financial year, which is a crucial time for settling government receipts, payments, and settlements. To facilitate this process, RBI has instructed agency banks to operate on this day, ensuring smooth financial closure for FY 2024-25.

Even though Eid is a public holiday in most states, Himachal Pradesh and Mizoram do not observe it as a holiday. However, banks across all states will remain open, as per RBI's order.

RBI’s Official Statement

The Reserve Bank of India emphasized the importance of this directive in a notification, stating:

"All banks will make proper publicity about the availability of banking services on this day (March 31)."

Precedent from Last Year

Last year, RBI issued a similar order, ensuring that March 31, 2024 (Sunday), remained a working day for agency banks to handle government transactions for FY 2023-24.

What Are Agency Banks?

Agency banks are commercial banks authorized by RBI to handle government transactions, including tax collection, pension disbursement, and public fund management. These include public sector, private sector, and foreign banks.

List of Banks That Will Remain Open on March 31

Here are the major agency banks that will remain open:

Public Sector Banks:

✅ Bank of Baroda
✅ Bank of India
✅ Bank of Maharashtra
✅ Canara Bank
✅ Central Bank of India
✅ Indian Bank
✅ Indian Overseas Bank
✅ Punjab & Sind Bank
✅ Punjab National Bank
✅ State Bank of India
✅ UCO Bank
✅ Union Bank of India

Private Sector Banks:

✅ Axis Bank
✅ City Union Bank
✅ DCB Bank
✅ Federal Bank
✅ HDFC Bank
✅ ICICI Bank
✅ IDBI Bank
✅ IDFC First Bank
✅ IndusInd Bank
✅ Jammu & Kashmir Bank
✅ Karnataka Bank
✅ Karur Vysya Bank
✅ Kotak Mahindra Bank
✅ RBL Bank
✅ South Indian Bank
✅ Yes Bank
✅ Dhanlaxmi Bank
✅ Bandhan Bank
✅ CSB Bank
✅ Tamilnad Mercantile Bank

Foreign Banks:

✅ DBS Bank India

Final Words

This move by RBI ensures that all government-related transactions are processed smoothly before the new financial year begins. So, if you need to complete any bank-related work, March 31 will be a working day for these banks, despite the Eid holiday in most states.