RBI Calendar: Bank Closures on February 28 and March 1
In the coming week, banks across India will observe holidays on February 28 and March 1. This closure coincides with the fourth Saturday and Sunday of the month. The Reserve Bank of India (RBI) has announced a total of nine holidays for all public and private banks in February.
RBI Holiday Calendar: Key Details
The RBI’s holiday calendar applies to major banks, including the State Bank of India (SBI). It includes weekends and specific regional holidays. Notably, banks remain operational on the first, third, and fifth Saturdays each month unless a specific holiday is declared.
National and Regional Variations
Bank holidays may vary from one state to another, depending on local requirements. It’s advisable for customers to verify the holiday schedule with their local bank branches. This will ensure preparedness for emergencies or extended time off.
Banking Services During Holidays
Even though banks will be closed, customers can still access several services:
- Online and mobile banking services will remain available.
- ATMs will be operational for cash withdrawals.
- UPI transactions can be processed without interruption.
However, check transactions involving cheques and promissory notes will not be processed during these holidays, as outlined in the RBI’s annual holiday calendar. Users should plan their transactions accordingly to avoid any inconvenience during the holidays.
