RBI Updates Bank Holiday List

The Reserve Bank of India (RBI) has removed Mahavir Jayanti from the list of official bank holidays for this year. As a result, banks across many states that would typically remain closed on this occasion will now operate as usual.

Mahavir Jayanti Notified as Working Day for Banks

Mahavir Jayanti, an important religious festival observed by the Jain community, has traditionally been marked as a public holiday in various states. It is usually a non-working day for most banks across the country. However, this year, the RBI has revised the official holiday calendar, omitting Mahavir Jayanti from the list of recognised holidays under the Negotiable Instruments Act.

With this change, all scheduled commercial banks, regional rural banks, and cooperative banks are expected to remain open on the day of the festival, unless a specific state government has issued separate guidelines applicable within its jurisdiction.

Local Variations May Apply

Although the RBI issues a list of holidays applicable under the Negotiable Instruments Act, these do not necessarily translate into uniform closures nationwide. Bank holidays in India can vary by state, depending on local festivals, regional laws, and the discretion of the state governments.

Therefore, while Mahavir Jayanti has been removed from the central holiday list this year, some states may still choose to declare it as an official public holiday. In such cases, banks located in those regions may remain closed in accordance with local government notifications.

Internal Circulars Reflecting Revised Schedule

Many banks have reportedly issued internal circulars to their staff, confirming that branches will operate during regular business hours on Mahavir Jayanti. Customers are advised to check with their respective banks or visit the official websites for updated branch schedules, especially if they reside in states where the festival has significant cultural or religious observance.

Banking services, including over-the-counter transactions and customer support, will remain operational unless otherwise instructed by state authorities.

Nationwide Banking Functionality Unaffected

The revised holiday status will not impact digital and online banking services, which remain available round the clock. Customers may continue to use internet banking, mobile apps, ATMs, and UPI platforms for financial transactions on Mahavir Jayanti.

The RBI’s update reflects an administrative change in the official holiday calendar and should not be interpreted as a change in the significance of the festival itself.

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