Are banks across India closed on 28 February and 1 March?

Yes. The RBI bank holiday calendar shows a fourth-Saturday closure on 28 February and a Sunday closure on 1 March. Branch counters pause nationwide, which can delay cheque handling. Digital rails like UPI, IMPS, NEFT, and RTGS remain available, so use them for urgent transfers during the weekend.

Will my cheque clear if I deposit it on Friday in India?

It might, but timing depends on your bank, city, and cut-off. A Friday lodgement often slips to next week when counters pause over the weekend. To reduce risk, deposit by Tuesday or Wednesday. Check the RBI bank holiday calendar and your branch’s stated cut-offs for accurate value dates.

Do UPI, IMPS, NEFT, and RTGS work during bank holidays?

Yes. UPI, IMPS, NEFT, and RTGS operate through weekends, subject to scheduled maintenance. They can credit beneficiaries even when counters are closed, though some bank-specific checks may add short delays. For urgent payments, prefer these rails over cheques during the dates highlighted in the RBI bank holiday calendar.

Should UK SMEs expect delays during Ramazan bank holidays?

Potentially. Some states observe Ramazan bank holidays, which can slow local clearing even if national digital rails keep running. If payees sit in affected cities, allow extra time. Use UPI, NEFT, or RTGS for critical payments and keep reviewing the RBI bank holiday calendar for updated regional notices.

Global Market Insights

India Bank Holidays February 23: Weekend Closures to Hit Cheque Clearing

ByDanny Kontos February 24, 2026February 24, 2026

The RBI bank holiday calendar shows nationwide branch closures on Saturday 28 February and Sunday 1 March. Cheque and Negotiable Instruments Act items may clear slower across India, which can affect UK businesses paying suppliers or receiving proceeds. Digital rails stay live, yet counter services pause. To reduce cash flow strain next week, advance cheque deposits and branch-only requests. This update tracks India bank holidays 2026 and what UK investors should do now to keep settlements on time.