Mon Mar 31 06:00:00 UTC 2025: ## Banks Open for Special Clearing, Closed to Public on April 1st; Upcoming Holidays Announced
**NEW DELHI, March 31** – Indian banks will be open for a special clearing session today to expedite government transactions and tax-related cheque clearances, the Reserve Bank of India (RBI) announced last week. However, banks will remain closed to the general public for all regular banking activities. This follows the closure of banks for customers on April 1st.
The RBI directive mandates banks to keep their clearing infrastructure operational during these special hours, maintaining sufficient funds to handle the increased transaction volume.
Several bank holidays are scheduled for April: April 1st (most states), April 6th (Ram Navami), April 10th (Mahavir Jayanti), April 14th (Ambedkar Jayanti), and April 18th-19th (Good Friday and Easter Saturday). Additional state-specific holidays will also be observed.
**Meanwhile, in other news:** The Indian Air Force (IAF) chief criticized Hindustan Aeronautics Limited (HAL) for delayed deliveries and GE Aerospace for engine supply issues related to the Tejas fighter jet. Despite this criticism, ICICI Securities upgraded HAL’s rating to “Buy” and increased its target price, citing recent orders for 97 Tejas Mk 1A and 156 LCH Prachand helicopters. HAL aims for the maiden flight of the Tejas Mk-II by March 2026.
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