Bank Holidays in March 2022: According to the holiday list released by the Reserve Bank India, banks will remain shut for 13 days in the coming month of March 2022. Some of the major festivals falling in the month of March are Mahashivratri and Holi.
Holi, one of India’s largest festivals, falls on March 18 in 2022 and banks across the country, with some exceptions, will be closed. Banks will also be closed across many states on March 1, 2022 on the occasion of Mahashivratri.
Bank holidays come into effect as per a list released by the Reserve Bank of India or RBI. According to a list by the central bank, the number of holidays has been fixed at 7 this month. The remaining are the weekend leaves. This includes all Sundays of the month, as well as second and fourth Saturdays. Banks remain open on the first and third Saturdays of every month. The RBI’s list of holidays falls into three categories. These are state-wise celebrations, religious holidays and festival celebrations.
The RBI divides the holidays into the national and regional category. On holidays falling in the national category, all banks across India are closed while on holidays in the regional section, branches in some states remain closed.
It is to be noted that the Reserve Bank of India places its holidays under three brackets, including ‘Holiday under Negotiable Instruments Act’, ‘Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday’ and ‘Banks’ Closing of Accounts’. On these notified holidays, all branches of banks, which includes the public sector, private sector, foreign banks, cooperative banks and regional banks, will remain shut.
Here’s the list of upcoming holidays in March 2022
March 1 (Tuesday): On the occasion of Mahashivratri, banks will be closed in Gujarat.
March 3 (Thursday): With Losar falling on this day, banks will remain closed in Sikkim.
March 4: (Friday): Banks will be closed in Mizoram due to Chapchar Kut.
March 17: Thursday: To celebrate Holika Dahan, banks will be shut in Uttarakhand, Uttar Pradesh and Jharkhand.
March 18: (Friday): Due to the festival of Holi, banks will be closed in Karnataka, Orissa, Tamil Nadu, Manipur, Tripura.
March 19: (Saturday): Banks to be closed Orissa, Manipur and Bihar due to Holi/Yaosang.
March 22: (Tuesday): Banks in Bihar will remain closed to mark the Bihar Divas.
Banks also remain shut on the second and fourth Saturdays of the month. And, on all Sunday’s of the month.
List of Saturdays and Sundays as Holidays:
Sunday: March 6, 2022
Second Saturday: March 12, 2022
Sunday: March 13, 2022
Sunday: March 20, 2022
Fourth Saturday: March 26, 2022
Sunday: March 27, 2022
Meanwhile, banks across India had a total of 12 holidays in February 2022. Some of the notable occasions in the month were Saraswati Puja/Shree Panchami/Basant Panchami and Chhatrapati Shivaji Maharaj’s Jayanti.
Bank customers should plan their visits accordingly, as closure of banks might affect customers who need to physically visit a branch, it is important to know the holiday dates beforehand. However, ATM and online banking services will continue to operate during this time.
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