Bank holiday today: Are banks open or closed on Saturday, March 8? Check here

Bank holiday today: Banks are closed on Saturday, March 8, 2024, according to the Reserve Bank of India (RBI) calendar. Generally, banks are open on the first and third Saturdays of every month, while they remain closed on the second and fourth Saturdays. Since, March 8 is the second Saturday of the month, hence the banks will be shut on this day.

The central categorises bank holidays into three types: Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and banks’ closing of accounts. Customers can get information on bank holidays through the RBI’s official channels, which are the website and notifications to banks.

March 8 is designated as a holiday under the Negotiable Instruments Act, which regulates the issuing of cheques and promissory notes. Transactions involving these instruments will not be available during the holidays.

Meanwhile, online banking services will be available across the country during bank holidays for seamless access to banking services, even on bank holidays. Customers can use these services for convenient financial transactions.

Fund transfer requests can be made using NEFT/RTGS transfer forms, demand draft request forms, and chequebook forms. Credit cards, debit cards, and ATM cards can be availed through card services. Services such as account maintenance forms, setting up standing instructions, and applying for a locker are also available.

Bank holidays in March

In the month of March, banks will remain closed for up to eight days, apart from the second and fourth Saturdays, and Sundays.

According to the bank holiday calendar RBI, banks will remain closed on March 7, 13, 14, 15, 22, 27, 28 and 31. Banks are typically closed due to national and regional festivals along with the weekends. In March banks will be closed on account of festivals such as Chapchar Kut, Holika Dahan/ Attukal Pongala, Holi, Yaosang, Bihar Diwas, Shab-I-Qadr, Jumat-ul-Vida and Ramzan-Id (Id-Ul-Fitr)