March 31 is the last day of the financial year, making it one of the most important days for banks and government offices.
Key activities like tax payments, subsidy transfers, salary disbursements, and final account settlements are completed on this day.
Keeping this importance in mind, the Reserve Bank of India (RBI) has taken a major decision for March 31, 2026.
Although several states had earlier listed this date as a bank holiday due to Mahavir Jayanti, the RBI has now cancelled the holiday for certain bank branches.
Why Was the March 31 Bank Holiday Cancelled?
The central government requested the RBI to ensure that all government receipts and payments are properly recorded within the financial year 2025–26.
This includes:
Tax collections
Government fees and duties
Subsidies
Salaries and pensions
To make this possible, banks must remain operational on March 31.
Accepting this request, the RBI ordered that all agency bank branches handling government transactions will stay open on Tuesday, March 31, 2026.
What Are Agency Banks?
Agency banks are banks that work on behalf of the government. Their responsibilities include:
Collecting taxes
Processing government payments
Handling subsidy transfers
Managing government invoices
Most public sector banks and some private banks fall under this category.
These banks will remain open on March 31, even in states where a holiday was earlier announced.
States Where Banks Were Earlier Closed on March 31
As per the RBI’s annual holiday calendar, banks were initially scheduled to remain closed in several states due to Mahavir Jayanti.
These included:
Gujarat, Maharashtra, Karnataka, Madhya Pradesh, Tamil Nadu, Rajasthan, Uttar Pradesh, West Bengal, Delhi, Bihar, Chhattisgarh, and Jharkhand.
However, bank branches handling government business will now remain open in all these states on March 31, 2026.
Bank Holidays in February 2026: Full List
February 1 (Sunday): Weekly off – All India
February 8 (Sunday): Weekly off – All India
February 14 (Saturday): Second Saturday – All India
February 15 (Sunday): Weekly Holiday / Mahashivratri – All India
February 18 (Wednesday): Losar – Sikkim (Gangtok)
February 19 (Thursday): Chhatrapati Shivaji Maharaj Jayanti – Maharashtra
February 20 (Friday): Statehood Day – Arunachal Pradesh
February 22 (Sunday): Weekly off – All India
February 28 (Saturday): Fourth Saturday – All India
Important Things to Keep in Mind
Before visiting a bank branch, always confirm working hours with your local branch.
Online banking services such as UPI, net banking, and mobile banking will continue to work as usual.
Avoid delaying important financial tasks till the last days of March to prevent inconvenience.
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