The RBI, in a notification last week, had directed banks to remain open for special clearing session. This is primarily to facilitate expedite end-of-the-year Govt transactions and tax related cheque clearing from the Government. This essentially means that though the bank transactions will be underway, it is not open for general people to walk into the branches for any daily activities. Banks are shut for customers tomorrow- April 1 as well.
According to the RBI circular last week, “All the member banks of CTS are also required to keep their inward clearing processing infrastructure open during the Special Clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the Special Clearing.”
Upcoming bank holidays in April
The banks will be shut on April 1 in most states. That apart April 6 will be observed as bank holiday all across the country on account of Ram Navami. Banks will be shut on April 10 all over India for Mahavir Jayanti. Similarly April 14 will be a bank holiday for all banks in India to observe Ambedkar Jayanti. Good Friday and Easter Saturday on April 18, 19 are also bank holidays and banks across India will stay shut on these days. This apart. there are several state specific bank holidays too.