RBI Asks Banks to Open on March 31 for Government Transactions

The Reserve Bank of India has asked banks that deal with government transactions to keep their branches open on March 31, 2026. The instruction applies even though the date has been declared a public holiday. 

The step is linked to the closure of accounts for the financial year 2025-26, which ends on March 31, 2026. 

Public Holiday Due to Mahavir Jayanti 

March 31, 2026, has been notified as a public holiday on account of Mahavir Jayanti. The day marks the birth anniversary of Jain Tirthankara Mahavir and is observed across several states. 

As a result, most bank branches would otherwise remain closed under the holiday schedule. 

Year-End Government Transactions 

March 31 is the final date for recording all government receipts and payments for a financial year.  

These include tax collections, fees, and various government disbursements. If such transactions are not processed on the same day, they risk being carried forward to the next financial year. 

Direction Issued on Government Request 

The RBI said the decision was taken following a request from the Union Government. The aim is to ensure that all government-related transactions are accounted for within the 2025-26 financial year itself. 

The directions were issued on Monday evening through a circular signed by the RBI’s Chief General Manager, Sudarsana Sahoo. 

Instructions to Agency Banks 

All agency banks have been instructed to keep their branches dealing with government business open for public transactions on March 31. Agency banks act on behalf of the government to handle receipts and payments. 

The RBI has clarified that the instruction applies only to branches involved in government transactions, not to all bank branches. 

Public Notice on Service Availability 

Banks have also been asked to give adequate publicity about the availability of government-related banking services on that day. This is intended to ensure that users are aware that such branches will remain operational despite the holiday. 

Details on branch-level operations will be communicated by individual banks. 

Read More: RBI Reports 98.42% Return Of ₹2000 Banknotes After Withdrawal Announcement! 

Conclusion 

By keeping designated branches open on March 31, the RBI aims to facilitate the timely recording of government transactions at the close of the 2025-26 financial year, despite the date falling on a public holiday. 

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