RBI Cancels Mahavir Jayanti Bank Holiday on March 31 for Financial Year-End Transactions

• The Reserve Bank of India (RBI) has cancelled the bank holiday scheduled for March 31, which was previously declared for Mahavir Jayanti in some states.
• Banks across the country will remain open on March 31 to facilitate the completion of government income and expenditure accounts, as it is the last day of the 2025-26 financial year.
• All agency banks handling government transactions are instructed to keep their branches open to ensure timely tax collections and government payments.
• This decision aims to prevent disruption of financial transactions and assist taxpayers and beneficiaries of government schemes, despite it being a holiday in the annual calendar.
• While Mahavir Jayanti is a sacred festival for Jains, the RBI's directive prioritizes financial year-end requirements, with digital banking services remaining available.