March 31 is the last day of the financial year and one of the busiest days for banks and government offices.
Important work like tax payments, government transactions, subsidy transfers, and final account settlements happens on this day.
Keeping this in mind, the Reserve Bank of India (RBI) has taken an important decision for March 31, 2026.
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Why Was the March 31 Bank Holiday Cancelled?
Earlier, many states had declared a bank holiday on March 31 due to Mahavir Jayanti, which led to confusion among customers.
However, the central government requested the RBI to ensure that all government-related money transactions are completed within the 2025–26 financial year.
These include:
Tax collections
Government fees and duties
Salary, pension, and subsidy payments
To make this possible, the RBI ordered that banks handling government transactions must remain open on March 31, 2026 (Tuesday).
Which Banks Will Remain Open?
The RBI has clarified that agency bank branches will stay open on March 31.
What Are Agency Banks?
Agency banks are banks that work on behalf of the government.
Their responsibilities include:
Collecting taxes
Making government payments
Processing official bills and invoices
Most public sector banks and selected private banks fall under this category.
States Where Banks Were Earlier Closed
According to the RBI’s annual holiday calendar, banks were earlier scheduled to remain closed on March 31 in the following states due to Mahavir Jayanti:
Gujarat, Maharashtra, Karnataka, Madhya Pradesh, Tamil Nadu, Rajasthan, Uttar Pradesh, West Bengal, Delhi, Bihar, Chhattisgarh, and Jharkhand.
Now, bank branches dealing with government business will remain open in all these states.
Bank Holidays in February 2026
Here is a quick overview of bank holidays in February 2026:
February 1 (Sunday): Weekly holiday – All India
February 8 (Sunday): Weekly holiday – All India
February 14 (Saturday): Second Saturday – All India
February 15 (Sunday): Weekly holiday / Mahashivratri – All India
February 18 (Wednesday): Losar – Sikkim
February 19 (Thursday): Chhatrapati Shivaji Maharaj Jayanti – Maharashtra
February 20 (Friday): Statehood Day – Arunachal Pradesh
February 22 (Sunday): Weekly holiday – All India
February 28 (Saturday): Fourth Saturday – All India
Important Things to Keep in Mind
Before visiting a bank, confirm with your local branch whether it is open.
Online banking services like UPI, net banking, and mobile banking will continue without interruption.
Avoid delaying important financial work until the last few days of March to prevent last-minute issues.