Bank Holidays March 2023: Banks will remain closed for a total of 12 days in March 2023 and these include weekends as well.
Hence, it is important for all to plan their bank-related tasks to prevent any delays.
As a norm, banks in India continue to work on the first and thirs Saturdays of the month, while the second and fourth Saturdays are considered holidays, so the public are requested go through the list of bank holidays in March to avoid any inconvenience.
In March 2023, private and public sector banks will remain closed due to bank holidays as per the Reserve Bank of India (RBI) calendar.
Banks may also be closed on all public holidays based on the regional holidays of the particular state.
Such regional holidays are decided by the respective state governments and will not be mentioned on RBI’s official website.
The Reserve Bank of India (RBI) has placed the holidays under three brackets- Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts.
March 7 Holi/Holi (Second Day)/Holika Dahan/Dhulandi/Dol Jatra
March 8 Dhuleti/Doljatra/Holi/Yaosang 2nd Day
March 9 Holi
March 11 Second Saturday of the month
March 12 Sunday
March 19 Sunday
March 22 Gudi Padwa/Ugadi Festival/Bihar Divas/Sajibu Nongmapanba (Cheiraoba)/Telugu New Year’s Day/1st Navratra
March 25 Fourth Saturday
March 26 Sunday
March 30 Shree Ram Navami
The first bank holiday starts from the Chapchar Kut on March 3 and other holidays like Gudi Padwa/Ugadi Festival/Bihar Divas falls on March 22.
Banks in some states will observe the holidays as per the RBI calendar.
There are four Sundays in March that fall on March 5,12,19, and 26, and also second and fourth Saturdays ie March 11 and 25.
And, under the Negotiable Instruments Act, RBI has declared holidays on March 3, 7, 8, 9, 22 and 30.
Apart from this, as per the RBI calendar there are six bank holidays in March 2023.
People must note that even during bank holidays, individuals will not face any problems related to bank work as ATMs, cash deposits, online banking, and mobile banking will services continue to function.