Banks in the Union Territory of Jammu and Kashmir are set to observe extended holidays this week, coinciding with significant religious events marking the conclusion of Ramadan. On March 27 and 28, 2025, both public and private sector banks will remain closed in observance of Shab-e-Qadr and Jumat-ul-Vida, respectively.
Shab-e-Qadr, also known as the 'Night of Power,' is celebrated on March 27. This holy event holds great significance in the Islamic tradition, as it commemorates the night when the Quran was first revealed to the Prophet Muhammad. Special prayers and religious gatherings are customary on this night, making it a deeply spiritual occasion for Muslims.
The following day, March 28, marks Jumat-ul-Vida, the last Friday of Ramadan, which is another important day in the Islamic calendar. It is a time for reflection and community prayers, and banks in Jammu and Kashmir will remain closed to allow observance of these significant events.
As the end of Ramadan approaches, the festive spirit builds, culminating in Eid-ul-Fitr, which will be celebrated on Monday, March 31, 2025. Traditionally, Eid marks the conclusion of the fasting month and is celebrated with communal prayers, feasting, and giving of gifts.
However, in a notable change from previous years, the Reserve Bank of India (RBI) has made adjustments to the holiday schedule. Initially, March 31 was designated as a bank holiday for Eid. Yet, the RBI has since cancelled this holiday due to the date also being the deadline for financial transactions for the current financial year 2024-25. Consequently, banks will operate normally on March 31 to ensure all financial dealings are completed without discrepancies.
For customers who need to conduct banking transactions during this period, it is essential to note that while banks will be closed on March 27 and 28, services such as ATMs, mobile banking, online banking, and bank apps will still be operational. This means customers can continue to manage their finances digitally, ensuring they have access to funds and can perform necessary transactions even during the holidays. However, transactions involving cheques and promissory notes will be suspended during these specific holidays, as governed by the Negotiable Instruments Act.
Customers are encouraged to plan ahead and verify the holiday schedules with their local bank branches to avoid any last-minute inconveniences. With March having five Saturdays this year, banks will be open on March 29, which is the fifth Saturday of the month. However, they will close again on March 30, as it falls on a Sunday.
As the region prepares for these significant observances, the banking community is urging customers to stay informed about these changes and to utilize available digital banking options during the upcoming holidays.
In summary, the upcoming bank holidays in Jammu and Kashmir reflect the intertwining of religious observance and the necessity for financial operations. While the closure on March 27 and 28 allows for the observance of Shab-e-Qadr and Jumat-ul-Vida, the operational status on March 31 ensures that customers can meet their financial obligations as the fiscal year draws to a close.
