Meanwhile, banks in India were closed for 12 days in February 2022.
New Delhi: Banks will remain closed for 13 days in the month of March 2022, as per the holiday schedule of the Reserve Bank of India. Mahashivratri and Holi are the two major festivals that will take place in March.
Holi, one of India's major festivals, falls on March 18, 2022, and with a few exceptions, banks across the country will be closed. Banks will also remain closed in various states on March 1, 2022, on the occasion of Mahashivratri.
Bank holidays are implemented as per a schedule published by the Reserve Bank of India (RBI). The number of holidays for this month has been fixed at seven as per a list by the central bank. Only weekend leaves are left. This includes all Sundays of the month, as well as the second and fourth Saturdays. Banks are open on the first and third Saturdays of every month. The list of holidays provided by RBI is divided into three groups. These are statewide events, religious holidays and festival celebrations.
RBI classifies holidays as national or regional. On national holidays, all banks in India remain closed, while on regional holidays, branches in select states remain closed.
It should be mentioned that the Reserve Bank of India classifies its holidays into three categories: 'Holidays under the Negotiable Instruments Act,' 'Holidays under the Negotiable Instruments Act and Real Time Gross Settlement Holidays,' and 'Closing Bank Accounts' . All bank branches including public and private sectors, foreign banks, co-operative banks and regional banks will remain closed on these specified holidays.
Check out the list of upcoming holidays in March 2022:
March 1 (Tuesday): Banks will remain closed on the occasion of Mahashivratri in Gujarat.
March 3 (Thursday): As Losar falls on this day, banks will remain closed in Sikkim.
March 4 (Friday): Banks will remain closed in Mizoram due to Chapchar Kut.
March 17: Thursday: Banks will remain closed in Uttarakhand, Uttar Pradesh and Jharkhand on the occasion of Holika Dahan.
March 18: (Friday): Banks will remain closed in Karnataka, Orissa, Tamil Nadu, Manipur and Tripura due to Holi festival.
March 19 (Saturday): Banks will remain closed in Orissa, Manipur and Bihar on account of Holi/Yaosang.
March 22: (Tuesday): Banks will remain closed in Bihar on account of Bihar Day.
Banks are also closed on the second and fourth Saturdays of every month. and every Sunday of the month.
List of Saturdays and Sundays as Holidays:
Sunday: 6 March 2022
Second Saturday: 12 March 2022
Sunday: 13 March 2022
Sunday: 20 March 2022
Fourth Saturday: 26 March 2022
Sunday: 27 March 2022
Meanwhile, banks in India were closed for 12 days in February 2022. Saraswati Puja / Shree Panchami / Basant Panchami and the birth anniversary of Chhatrapati Shivaji Maharaj were the two major celebrations in the month.
Bank customers should make proper arrangements for their visits, as bank closure may impact customers who need to visit a branch; Therefore, it is important to be aware of the holiday dates in advance. During this time ATM and online banking services will be operational.