Indian Banks Anticipated to Close for 14 Days in March 2024
As per our reliable source, it’s been found out that the banking operations in India will come to a halt in March 2024. According to the Reserve Bank of India’s (RBI) official holiday statement, Indian banks are set to be non-operational for a total of 14 days throughout the month of March in 2024.
A Long Festive Weekend in March
Adding to the general bank holidays, the festival of Holi falling on a Monday in March 2024 will extend the weekend break for several states across the country. This has been accounted for in the RBI’s official holiday list which details all Sundays, the second and fourth Saturdays of the month, public holidays, and any regional holidays determined by various state governments.
States Observing Extended Holidays
The states that will enjoy the extended weekend due to the Holi festival include Tripura, Gujarat, Mizoram, Maharashtra, Madhya Pradesh, Jammu, Sikkim, Arunachal Pradesh, Rajasthan, Chandigarh, Uttarakhand, Andhra Pradesh, West Bengal, Telangana, Meghalaya, Uttar Pradesh, Chhattisgarh, Jharkhand, and Himachal Pradesh.
Other Key Holidays in March
Other significant bank holidays stated for March 2024 start from March 26. This date is marked to be observed as the Yaosang 2nd Day/Holi in Orissa, Manipur, and Bihar. The very next day, March 27, is attributed to the celebration of Holi in Bihar. Furthermore, on March 29, the banks will remain closed in most of India. States deviating from this norm will include Tripura, Assam, Rajasthan, Himachal Pradesh, and the cities of Jammu and Srinagar.
Besides, trading activities in the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are also planned to be disrupted due to these holidays. BSE and NSE are expected to remain closed on March 25 on account of Holi and again on March 29 due to Good Friday.
Conclusion
Consequently, the usual bank operations, trading activities, and regular transactions will be affected significantly throughout the month of March 2024 due to these series of holidays. It is therefore advised to plan accordingly to avoid any inconvenience.
