As the financial year 2024-25 comes to a close, the Reserve Bank of India (RBI) has announced that banks in India will remain open on Monday, March 31 2025, for special clearing operations. This move ensures that all government transactions are processed smoothly before the fiscal year ends.

RBI cancels Eid-ul-Fitr bank holiday on March 31

Initially, March 31 was marked as a public holiday for banks across most states in observance of Eid-ul-Fitr. However, given that this date also coincides with the financial year-end, the RBI has issued a directive to keep banks operational. The decision is aimed at facilitating the seamless processing of government-related payments, tax collections, and financial settlements.