Bank Holidays in March 2023: Banks to be Shut for 12 Days; Check the Updated List

There are new bank holidays to be mindful of as March, the third month of the year approaches. According to Reserve Bank of India (RBI) regulations, banks will be closed for 12 days in March 2023, including the second and fourth Saturdays and Sundays.

All state and central holidays, as well as some local holidays, will result in bank closures. Regional holidays are not listed on the RBI's official website because they are determined by the respective state governments.

March 2023 will include 12 bank holidays, with the first one beginning on Chapchar Kut on March 3 and continuing through Gudi Padwa, the Ugadi Festival, and Bihar Divas on March 22. All banks in India, with the exception of a few states, will celebrate these holidays.

List of Bank Holidays in March 2023:

Due to the rare or short intervals of holidays, people won't experience any difficulties carrying out their banking-related duties. ATMs, cash deposits, internet banking, and mobile banking will all continue to operate as usual. Since holidays are chosen while taking into account regional celebrations, they may differ from state to state.

Banks are closed on Sundays and the second and fourth Saturdays of each month, per RBI regulations. On March 3, 7, 8, 9, 22, and 30, the RBI announced vacations under the Negotiable Instruments Act. In addition, there are four Sundays in the month of March that fall on March 5, 12, 19, and 26. There are also Saturdays on March 11 and 25 that fall on the second and fourth Saturdays.

The Reserve Bank's calendar lists six bank holidays in March 2023 in addition to the weekends. Under the terms of the Negotiable Instruments Act of 1881, the federal government separated holidays into three groups.