Banks To Remain Closed For 12 Days(Read Details Here)

In March 2023, private and public sector banks will remain closed due to bank holidays according to Reserve Bank of India calendar.

There will be a total of 12 bank holidays in March including the second and fourth Saturdays and Sundays.

Also, note that banks may also be closed on all public holidays based on the regional holidays of the particular state.

Such regional holidays are decided by the respective state governments. It is not mentioned on RBI’s official website.

Banks To Remain Closed For 12 Days(Read Details Here)

The first bank holiday starts from the Chapchar Kut on March 3 and other holidays like Gudi Padwa/Ugadi Festival/Bihar Divas falls on March 22. Banks in some states will observe the holidays as per the RBI calendar.

Under the Negotiable Instruments Act, RBI has declared holidays on March 3, 7, 8, 9, 22, and 30 Apart from this, there are four Sundays in March that fall on March 5,12,19, and 26, and also second and fourth Saturdays ie March 11 and 25.

According to the Reserve Bank’s calendar, there are six bank holidays in March 2023.

Even though banks will remain shut in the following days but individuals will not face any problems related to bank work as ATMs, cash deposits, online banking, and mobile banking will services continue to function.

Date Holiday

• March 3 Chapchar Kut
• March 5 Sunday
• March 7 Holi/Holi (Second Day)/Holika Dahan/Dhulandi/Dol Jatra
• March 8 Dhuleti/Doljatra/Holi/Yaosang 2nd Day
• March 9 Holi
• March 11 Second Saturday of the month
• March 12 Sunday
• March 19 Sunday
• March 22 Gudi Padwa/Ugadi Festival/Bihar Divas/Sajibu Nongmapanba (Cheiraoba)/Telugu New Year’s Day/1st Navratra
• March 25 Fourth Saturday
• March 26 Sunday
• March 30 Shree Ram Navami

The Reserve Bank of India (RBI) has placed the holidays under three brackets.

Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts.

So, make sure that you avoid visiting banks on the dates mentioned above to avoid inconvenience.

BY IYABO AINA

Publisher News Rain Nigeria