Mumbai: The Reserve Bank of India has directed all agency banks—those handling government transactions—to remain open on March 31, 2025 (Monday). March 31 has been announced a holiday in many states. Banks were supposed to be closed on March 31 in almost all states except Himachal Pradesh and Mizoram for Ramzan-Id (Id-Ul-Fitr).
The apex bank issued the new directive to ensure that all government-related financial transactions, including receipts and payments, are properly recorded within the 2024-25 financial year, ending on March 31, 2025.
March 31 marks the close of the government’s financial year, meaning all transactions tied to government revenue, payments, and settlements must be completed before the new fiscal year begins.
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The following services will be available on March 31, 2025:
Government tax payments (Income Tax, GST, Customs, Excise duties)
Pension payments and government subsidies
Disbursement of government salaries and allowances
Public transactions related to government schemes and subsidies
April 1 Bank Holiday: Banks will be closed on April 1 (Monday) in most states and Union Territories, except for Meghalaya, Chhattisgarh, Mizoram, West Bengal, Himachal Pradesh, and Meghalaya, for annual account closing as per RBI instructions.
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