Good Friday bank holiday 2024: All about bank holidays in March 2024

Stock exchanges like the NSE and BSE, alongside commodity markets (MCX, NCDEX) will be shut on Friday, March 29 in recognition of Good Friday

Great Friday is a significant day in the Christian calendar. It is a period for devotees globally to consider the profound sacrifice of Jesus Christ, who gave his life for humankind. 

The day is also observed as a holiday in numerous cities across India. The banks additionally stay shut on Good Friday, according to the calendar released by the Reserve Bank of India (RBI). This year, Good Friday will be observed on Friday, March 29.

Is Good Friday a national holiday in India? 

Good Friday is an event to respect the final hours of Jesus Christ's life. But, it's not a national holiday in India. There are only three national holidays nationwide - Republic Day on January 26, Independence Day on August 15 and Gandhi Jayanti on October 2.

Banks closed on Good Friday?

The month of March has witnessed numerous celebrations, because of which banks were shut in numerous cities. Besides in Tripura, Assam, Rajasthan, and Himachal Pradesh, banks will stay shut in any remaining states on Great Friday, as per RBI schedule.

Despite the fact that regular bank offices will be shut, online banking services and ATMs will work without a delay. RBI categorises holidays under the Negotiable Instruments Act, Real Time Gross Settlement Holidays and Banks' Closing of Accounts. Good Friday lies in the first category.

Bank holidays in March

In March 2024, there are 14 bank holidays nationwide. These incorporate public holidays, regional holidays, and regular closures on second and fourth Saturdays and all Sundays. 

Chapchar Kut on March 1, Mahashivratri on March 8 and Holi on March 25 are other bank holidays. Some states, similar to Bihar, celebrated state-particular holidays like Bihar Diwas on March 22, and Yaosang second day/Holi on March 26 and 27.

Will banks stay open on March 31?

The last day of March, the end of a financial year, is seen as shutting of accounts by the RBI. Thus, banks stay closed on that day. In any case, this year, the central bank has said that all assigned branches of agency banks will stay open on Saturday and Sunday (March 31), as a part of "special measures for the current financial year". 

RBI made an announcement informing that to give "greater convenience to taxpayers' ', agency banks will keep their counters available on the office hours for at last two days of March.