Banks in several states and stock exchanges BSE, NSE will remain closed on the occasion of Mahavir Jayanti, the birth anniversary of a renowned Jain Tirthankara.
According to the Reserve Bank of India's calendar, April 10, 2025, is an official holiday for banks in several states.
Are Banks Closed Pan-India?
Banks will remain closed in select cities on the occasion of Mahavir Jayanti, but not throughout the entire country. Both public and private sector banks will be shut in cities such as Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, and Ranchi.
However, banking operations will continue as usual in cities like Agartala, Bhubaneswar, Chandigarh, Dehradun, Gangtok, Guwahati, locations in Andhra Pradesh and Telangana, as well as Imphal, Itanagar, Jammu, Kochi, Kohima, Panaji, Patna, Shillong, Shimla, Srinagar, and Thiruvananthapuram.
RBI broadly categorises bank holidays into three types. First, Holidays under the Negotiable Instruments Act, announced by either the central or respective state governments under the Negotiable Instruments Act of 1881. Examples include national holidays such as Independence Day and Gandhi Jayanti.
Second, RTGS Holidays under the Negotiable Instruments Act. These specific holidays impact the functioning of the Real-Time Gross Settlement (RTGS) system, meaning RTGS transactions are not processed on these days.
And lastly, Annual Bank Account Closure, when banks observe holidays to carry out the closing of their yearly financial accounts.
This month, banks will remain closed on April 12 (Second Saturday), April 14 (Ambedkar Jayanti and regional festivals), April 18 (Good Friday), April 21 (Garia Puja in Tripura), April 29 (Parshuram Jayanti), and April 30 (Basava Jayanti and Akshaya Tritiya).
However, online banking services will remain available for transactions.
Stock Market Closed After Ending in Red
Trading on, the BSE and National Stock Exchange (NSE) will also be closed on April 10 in observance of Shri Mahavir Jayanti.
Trading across all segments—including equities, derivatives, SLBs, currency, and interest rate derivatives—will be suspended for the day.
The commodity derivatives market will remain shut during the morning session (9:00 am to 5:00 pm) but will resume in the evening session from 5:00 pm to 11:55 pm.
Normal trading on both exchanges will resume on April 11.
In the previous session, on April 9, Indian markets saw a dip with weak global cues triggering broad-based selling. The Sensex dropped 379.93 points (0.51%) to close at 73,847.15, while the Nifty fell 136.70 points (0.61%) to end at 22,399.15.
Markets saw sell-offs even as the Reserve Bank of India (RBI) announced a 25 basis points cut in the repo rate and changed its stance to "accommodative."
"Global financial markets are witnessing renewed selling pressure following the enactment of reciprocal tariffs. A trade war is escalating global risk, with a rise in U.S. bond yields prompting a sell-off in the world's safe treasury assets. In India, a cut in the repo rate, along with the adoption of an accommodative policy stance, is taken as a constructive step. However, it has done little to uplift overall market sentiment, as the world is embracing recessionary risk," said Vinod Nair, Head of Research, Geojit Investments Limited.
However, overnight, U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs barring China. His 10% universal tariff will continue as negotiations for a new trade policy are underway. For Beijing, though, the Trump-led Washington has announced 125% tariffs.
Wall Street indices--the S&P 500, Dow Jones and Nasdaq Composite skyrocketed 8-12% overnight, while Japan's Nikkei 225 and South Korea's Kospi climbed 6-8% today.
