Are Banks Closed or Open Today on Mahavir Jayanti? RBI Issues Special March 31 Instructions

Many people are asking "Are Banks Closed or Open Today?" as March 31, 2026 coincides with Mahavir Jayanti, which is a bank holiday in several states. However, the Reserve Bank of India (RBI) has directed certain bank branches to remain open today to complete government financial transactions before the end of the financial year.

The decision was taken after a request from the Government of India to ensure all receipts and payments related to the financial year 2025-26 are recorded before the fiscal year closes on March 31.

Are Banks Closed or Open Toda on March 31, 2026?

Banks are partially open today. Only agency bank branches that handle government transactions are operating on March 31. These branches will process government-related receipts and payments, while most regular banking services for customers may not be available.

In a statement issued on February 3, the RBI said banks dealing with government business should stay open on March 31, even if it falls on a public holiday, to ensure all government accounts are settled within the financial year.

States Where Banks Were Originally Closed for Mahavir Jayanti

Under the original bank holiday calendar, banks were scheduled to remain closed today in several states due to Mahavir Jayanti. These include:

• Gujarat
• Maharashtra
• Tamil Nadu
• Rajasthan
• Uttar Pradesh
• West Bengal
• Delhi
• Bihar
• Chhattisgarh
• Jharkhand

However, the RBI directive means designated agency bank branches in these states are still open today for government work.

Why Banks Are Open on March 31

March 31 is the last day of the financial year in India, making it a crucial date for closing government accounts. All tax collections, pension payments, and other government transactions for FY 2025-26 must be processed before the day ends.

Agency banks help the RBI handle these transactions on behalf of the government.

What Are Agency Banks?

Agency banks are banks authorised by the RBI under Section 45 of the RBI Act to conduct government banking work. These include public sector banks and selected private banks that manage tax collections, pension payments, and other government-related financial services.

The RBI also pays these banks an agency commission for handling such transactions.

Can Customers Use Digital Banking Today?

Even if most branches remain closed for regular services, customers can still make certain payments through internet banking and mobile banking. Digital channels may support transactions such as online tax payments and government fund transfers.

Customers are advised to check with their respective banks for specific branch timings and services available today