As a result, the scheduled holiday for Eid al-Fitr on March 31 has been cancelled, as March 31 is the last day of the financial year. Banks in India will remain open today, as the country follows a financial year from April 1-March 31.

Sunday, i.e. March 30, was a weekly holiday and March 31 was Ramzan Eid which was supposed to be a government holiday. However, Saturday was on as it was the fifth Saturday of the month. As per the rules, banks are closed on second and fourth Saturdays as well as all Sundays.

Bank holidays in India are part of the annual holiday calendar prescribed under the Negotiable Instruments Act by the Reserve Bank of India (RBI), which is responsible for overseeing the issuance of cheques and promissory notes.

Banks holiday on 1 April

Banks will remain open on April 1 due to annual account closing activities. However, banks will remain closed in Meghalaya, Chhattisgarh, Mizoram, West Bengal and Himachal Pradesh.

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