Bank Holidays in March 2023: Banks will closed for 12 days, check complete list here

Bank Holidays March 2023: Stay up to date with the list of bank holidays in March 2023. Bank holidays are important days on which banks and financial institutions are closed, affecting business and financial transactions. Check the list of bank holidays in March 2023 and plan your financial activities accordingly. Don’t miss out on the bank holidays of march 2023 important dates and ensure that you are prepared for any changes in your financial planning.

See the complete schedule of bank holidays in March 2023 so you can start making travel plans early. You can make your work easier and more efficient by scheduling any bank-related transactions in advance using the provided list of bank holidays. 

Bank Holidays March 2023 

There are public bank holidays in march 2023 in India that are both national holidays that apply to all the states as well as regional holidays that are exclusively applicable to certain states. The list of federal bank holidays in March 2023 is as follows:  

Date  Holiday 
5 March 2023  Panchayati raj Divas 
7 March 2023  Holi 
7 March 2023  Yaosang 
8 March 2023  Holi 
7 March 2023  Doljatra 
8 March 2023  Yaosang 2nd Day 
22 March 2023  Bihar Day 
22 March 2023  Gudi Padwa 
22 March 2023  Telugu New Year 
22 March 2023  Ugadi 
23 March 2023  S. Bhagat Singh’s Martyrdom Day 
24 March 2023  Sarhul 
30 March 2023  Ram Navami 

Bank Holidays March 2023: Occasions 

Panchayati Raj Diwas: This holiday honors the birthdate of Biju Patnaik, a renowned former chief minister of the state of Odisha. In 1992, when the country’s first panchayat elections were held, Patnaik reinstated Panchayati Raj.

Doljatra: This celebration honors Lord Krishna. On that day, a palanquin is used to carry Lord Krishna’s idol out in a parade. Because it commemorates the renowned Vaishnava saint Chaitanya Mahaprabhu’s birthday, the event has greater significance among Bengalis. 

Holi: The celebration of Holi is one of the most revered and cherished occasions in the country. The “festival of colors” is known as such and is quite positive for individuals. Holi unites the community and strengthens the nation’s secular fabric.  

2nd Day in Yaosang: The celebration is a distinct version of Holi that is observed in Manipur. The celebration, which is observed by the indigenous Meitei people, ties the past and present together. Up to the 15th century, the Yaosang festival was a harvest celebration. The holiday was changed into a Hindu celebration honoring Krishna at that time, nevertheless, Vaishnavism was being preached by Hindu preachers in the state. 

Martyr’s Day: it is observed in remembrance of the martyrdom of three Indian revolutionaries, Sukhdev Thapar, Bhagat Singh, and Shivaram Rajguru. The British executed the three young revolutionaries by hanging them. The younger generation of India continues to remember and find inspiration in them. 

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Ram Navami: It is the day on which King Dasharath and Queen Kausalya welcomed Lord Ram into the world at Ayodhya during the Treta Yuga. A spring celebration is held on the ninth day of Chaitra. It is done so in the first month of the Hindu lunar calendar. On this day, devotees worship Lord Ram, also known as “Maryada Purushottam,” in temples and implore his assistance. 

Ugadi: Ugadi, sometimes written as Yugadi, meaning “beginning.” Adi denotes “the beginning of something,” while yuga denotes “period.” Ugadi, like every other New Year’s Day, signifies a new beginning for people. The day is observed in order to welcome the new year. On such an auspicious day we greet with happiness and ask for the blessings of the gods. Rituals including oil bathing, house cleaning, and worship are carried out to mark the day. 

Long Weekends in 2023 

Every time of the month is a good time for holidays because they provide you with a break from your routine. But, you can arrange a weekend getaway with your loved ones if the holiday occurs at the start or end of a week. To learn more, keep reading.

Types of Bank Holidays 2023

National Holidays and Government Holidays are the two categories of bank holidays. India has three national holidays, which are as follows: 2) The Fourth of July; and 3) Mahatma Gandhi Jayanti The term “gazetted holiday” also applies to national holidays. National holidays are observed by the closure of banks and other financial organizations

Bank holidays for the central government and the state governments are separate categories of government holidays. In opposition to the Central Government bank holidays, which are typically observed throughout the nation, State Government bank holidays vary among Indian states. In Maharashtra, the day of Maharashtra is a holiday. Bank holidays are observed on both Haryana Day and Goa Liberation Day in the two states. 

RTGS and NEFT Bank Holidays 2023

Real Time Gross Settlement is referred to as RTGS, whilst National Electronic Funds Transfer is referred to as NEFT. Cash transfers between banks are possible with both RTGS and NEFT. NEFT and RTGS are both kept up by the Reserve Bank of India.  On other kinds of bank holidays, RTGS and NEFT are still available for use.  

Bank Holidays 2023 on the Second and Fourth Saturdays 

Together with the previously listed bank holidays, banks are also closed on the second and fourth Saturdays of every month. A bank will be open on the fifth Saturday of a month with five Saturdays. In the past, banks always worked a half-day on Saturdays. 

About Bank Holidays 2023 

Banks and other financial organizations are closed during bank holidays. They are typically recognized as public holidays and are observed in many countries around the world, including the United States, the United Kingdom, India, and others. The main purpose of bank holidays is to give people time off work to rest and enjoy time with their family and friends. The government might use it to commemorate festivals, key anniversaries, and other cultural events.  

Bank Holidays in March 2023
Bank Holidays March 2023

Bank holidays can impact the stock market, financial transactions, and other business activities, as banks and other financial institutions are closed. They may also impact people’s financial planning and transactions, as some financial activities may need to be completed before the bank holiday. Therefore, it is important for people to be aware of the bank holidays in their respective countries and plan their activities accordingly.

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