Good Friday: Significance and Bank Holiday Status
In the Christian calendar, Great Friday is a noteworthy day. It is a time when followers all throughout the world reflect on the great sacrifice made by Jesus Christ, who devoted his life in order to save humanity.
In several Indian cities, the day is also commemorated as a holiday. In addition, the Reserve Bank of India’s (RBI) schedule states that banks are closed on Good Friday. Good Friday is observed on Friday, March 29 this year.
Are national holidays observed in India on Good Friday?
Commemorating the last hours of Jesus Christ’s life, Good Friday is a sacred day. Yet in India, it’s not a public holiday. There are only three national holidays in the country: Gandhi Jayanti on October 2, Independence Day on August 15, and Republic Day on January 26.
Was Good Friday a closed bank day?
March has seen a lot of festivities, which have caused banks to close in a lot of places. In accordance with the RBI timetable, banks will be closed on Great Friday in all states except than Tripura, Assam, Rajasthan, and Himachal Pradesh.
ATMs and internet banking will remain operational even while physical bank branches will be closed. The RBI classifies holidays in accordance with the Real Time Gross Settlement Holidays, Bank Closing of Accounts, and Negotiable Instruments Act. Good Friday is included in the first group.
March bank holidays
There are fourteen bank holidays in the country in March 2024. These include federal holidays, local holidays, and the customary closing of all Sundays and the second and fourth Saturdays.
Other bank holidays include Chapchar Kut on March 1, Mahashivratri on March 8, and Holi on March 25. Like Bihar, several other states observed state-specific holidays, such as Yaosang second day/Holi on March 26 and 27, and Bihar Diwas on March 22.
Will March 31st be a bank holiday?
The RBI considers the last day of March, which marks the conclusion of the fiscal year, to be the closing of accounts. Banks are closed on that day as a result. In any event, as part of “special measures for the current financial year,” the central bank has announced that all designated branches of agency banks will remain open on Saturday and Sunday, March 31.
In a notification, the RBI stated that agency banks will maintain their counters open during business hours for the final two days of March in order to provide “more convenience to taxpayers.”