Bank Holidays in March 2022: According to the holiday list released by Reserve Bank of India, banks will remain closed for 13 days in the coming March 2022. Some of the major festivals that fall in the month of March are Mahashivratri and Holi.
Holi, one of India’s biggest festivals, falls on March 18 in 2022 and banks across the country, with few exceptions, will remain closed. Banks will also remain closed in many states on March 1, 2022, on the occasion of Mahashivratri.
Bank holidays are effective as per the list issued by Reserve Bank of India or RBI. According to a list of the central bank, the number of holidays this month has been fixed at 7. The rest are weekend leaves. 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 RBI holidays list falls into three categories. These are state wise celebrations, religious holidays and festival celebrations.
RBI divides holidays into national and regional category. On holidays falling in the national category, all banks across India remain closed, while on holidays in the regional segment, branches in some states remain closed.
It should be noted that the Reserve Bank of India in its Holidays Holidays under the Negotiable Instruments Act, holidays under the Negotiable Instruments Act and under three brackets including ‘Real Time Gross Settlement Holidays’ and ‘Banks’ Closing of Accounts’. On these notified holidays, all branches of banks, including public sector, private sector, foreign banks, co-operative banks and regional banks, will remain closed.
Here is the list of upcoming holidays in March 2022
March 1 (Tuesday): Banks will remain closed in Gujarat on the occasion of Mahashivratri.
March 3 (Thursday): Banks in Sikkim will remain closed due to the fall of Losar on this day.
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 to celebrate Holika Dahan.
March 18: (Friday): Banks will remain closed in Karnataka, Orissa, Tamil Nadu, Manipur, 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 the month. And, on all Sundays 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, there were a total of 12 holidays in February 2022 in banks across India. Some notable occasions in the month were Saraswati Puja / Shree Panchami / Basant Panchami and the birth anniversary of Chhatrapati Shivaji Maharaj.
Bank customers should plan their visits accordingly, as bank closure may impact customers who need to visit a branch, it is important to know the holiday dates in advance. However, ATM and online banking services will remain operational during this period.
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