As the new financial year 2025-26 begins, banks across India will observe a holiday on Tuesday, April 1, 2025. This closure, mandated by the Reserve Bank of India (RBI), is part of an annual tradition tied to the closing of accounts for the previous financial year (2024-25). The RBI’s holiday calendar, released at the start of each year, outlines such closures, ensuring that banks can finalize their financial records seamlessly.
The April 1 holiday is primarily observed for the “closing of accounts,” a critical process where banks reconcile their yearly transactions, update records, and prepare for the new fiscal year. This practice is especially significant for scheduled and non-scheduled banks in major cities across India.
However, while this closure affects most states and union territories, there are exceptions—banks in Meghalaya, Chhattisgarh, Mizoram, West Bengal, and Himachal Pradesh will remain open on this day due to regional variations in the holiday schedule. These differences reflect the RBI’s approach to balancing national financial protocols with local traditions and observances.
For customers, this means that physical bank branches of major institutions like the State Bank of India (SBI) and HDFC Bank will be inaccessible on April 1. However, digital banking services, such as mobile apps, ATMs, and online platforms, are expected to remain operational, offering a lifeline for urgent transactions. The RBI ensures that such holidays do not completely disrupt banking services, especially in an era where digital solutions dominate.
April 2025 will also feature additional bank holidays, including regional festivals and the standard second and fourth Saturdays, as per the RBI’s guidelines. In total, banks will be closed for 15 days in April 2025, including public holidays, Saturdays, and Sundays.
On April 1, banks will be closed for the annual account closing, which is also the day of Sarhul, a local spring festival celebrated in Jharkhand. This dual significance emphasizes the cultural and financial importance of the date.
Following April 1, other notable bank holidays in April include:
- April 5: Babu Jagjivan Ram's Birth Anniversary
- April 10: Mahavir Jayanti
- April 14: Dr. Bhimrao Ambedkar Jayanti, Vishu, Biju Festival, Tamil New Year, and Bihu
- April 15: Bengali New Year, Himachal Day, and Bihu
- April 16: Bihu
- April 18: Good Friday
- April 21: Garia Puja
It’s essential for customers to plan their banking activities around these holidays to avoid any inconvenience regarding banking services. The RBI’s holiday calendar is designed to help individuals and businesses manage their financial transactions effectively.
As the financial landscape evolves, the importance of understanding bank holidays cannot be overstated. These holidays impact transaction processing, economic activity, and general banking operations. Therefore, being informed about upcoming bank holidays is crucial for efficient financial planning.
In addition to the holidays, customers are reminded that banks will also observe regular weekly holidays on Sundays and the second and fourth Saturdays of the month. This means that, aside from the specific holidays mentioned, there are additional days when banking services will not be available.
In conclusion, as April 2025 approaches, it is vital for customers to remain aware of the bank holiday schedule to ensure that their financial activities proceed smoothly. Whether for personal banking needs or business transactions, understanding when banks will be closed can help avoid delays and ensure timely financial management.
