Private and public sector banks in India will be closed on April 1, which is a Saturday, with the exception of a few states. But did you realize that the banks would remain closed if there were any day on April 1st? Actually, this is because the Reserve Bank of India annually closes the bank accounts of recognized banks that are set aside for bank personnel. The fiscal year comes to a conclusion on March 31 and the new fiscal year starts on April 1. Many bank staff works greater hours during this time since they have a deadline of March 31 to finish the financial task. As a result, on April 1, the first day of the new fiscal year, the bank is closed.
Bank Holiday
There are numerous bank holidays in April, which occur at the same time. Banks will be closed for 15 days total, which includes Sundays, the second and fourth Saturdays, regional holidays, and the bank closing in April 2023. Bank closing an annual account in the month of April, Babu Jagjivan and Mahavir Jayanti Ram’s Birthday, Good Friday, Dr. Babasaheb Ambedkar’s Birthday, Sankranti, the Biju and Bishu Festivals, Tamil New Year’s Day, and the April holidays of Vishu, Bohag Bihu, and Himachal Banks will not reopen. In addition, banks are closed on the following holidays: Ramadan Eid, Shab-l-Qadr, Gariya Puja, Jumat-ul-Vida, and Bengali New Year’s Day (Nabbarsha) (Id-ul-Fitr).
Banks won’t be open on these days.
- Banks stay closed on April 1 (Saturday) for the annual closure, with the exception of Mizoram, Chandigarh, Meghalaya, and Himachal Pradesh.
- Tuesday, April 4 (Mahavir Jayanti): Gujarat, Mizoram, Maharashtra, Karnataka, Madhya Pradesh, Chandigarh, Tamil Nadu, Rajasthan, Lucknow, New Delhi, Chhattisgarh, and Jharkhand banks will be closed.
- Babu Jagjivan Ram’s birthday is on April 5 (Wednesday), hence banks in Hyderabad are closed.
- Banks will be closed on April 7 (Friday), which is Good Friday, with the exception of Tripura, Gujarat, Assam, Rajasthan, Jammu, Himachal Pradesh, and Srinagar.
- On April 14 (Friday), the bank will be closed for Dr. Babasaheb Ambedkar Jayanti, Bohag Bihu, Chiraoba, Baisakhi, Tamil New Year Day, Maha Bisubha Sankranti, Biju Festival, and Bisu Festival with the exception of Mizoram, Madhya Pradesh, Delhi, Chhattisgarh, Meghalaya, and Himachal Pradesh.
- Banks in Tripura, Assam, Kerala, Bengal, and Himachal Pradesh will be closed on April 15 (Saturday) in observance of Vishu, Bohag Bihu, Himachal Day, and Bengali New Year Day (Nabavarsh).
- Banks in Jammu and Srinagar will stay closed on Tuesday, April 18 (Shab-e-Qadr).
- On April 21 (Friday), banks in Tripura, Jammu, and Srinagar, Kerala, will be closed in observance of Eid-ul-Fitr (Ramadan Eid), Garia Puja, and Jumat-ul-Vida.
- Due to the fourth Saturday in April, which is Ramzan Eid (Eid-ul-Fitr), the bank will be closed on that day.
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