Are banks closed today, April 1? Everything you need to know

Are banks closed on April 1? April 1 – the beginning of the financial year – is a bank holiday across most states in the country. The holiday applies across major cities. 

April 1 is a scheduled holiday, as per the Reserve Bank of India’s holiday calendar.

Why are banks closed on April 1?

The April 1 holiday allows banks to close their yearly accounts. It is a routine process that allows banks to reconcile their financial statements for the previous year. This is why most banks shut their customer-facing operations for the day to allow staff to prepare for the accounting. 

April 1 holiday

According to the RBI, April 1 is a bank holiday across the country, except for the following states:

Mizoram (Aizawl)
Sikkim (Gangtok)
Nagaland (Kohima)
Jharkhand (Ranchi)
Meghalaya (Shillong)
Himachal Pradesh (Shimla)

April holidays

Apart from April 1, the month has the following holidays across different states:

April 2: Maundy Thursday
April 3: Good Friday
April 14: Dr. Babasaheb Ambedkar Jayanti/Maha Vishuva Sankranti/Biju/Buisu Festival/Tamil New Year's Day/Bohag Bihu/Cheiraoba/Baisakhi
April 15: Bengali New Year’s Day (Nababarsha)/Bohag Bihu/Vishu/Himachal Day
April 16: Bohag Bihu
April 20: Basava Jayanti / Akshaya Tritiya
April 21: Garia Puja

⁠Are online banking services available on April 1?

Online banking services such as NEFT, IMPS, RTGS would remain available. ATM services would also remain operational, since these services are not impacted by bank holidays.

You would be able to use UPI services without hindrance too.