Imagine racing to make an urgent fund transfer on March 31, only to find that your bank is open, but critical transactions aren’t going through. That could be a reality for many this year, as March 31, 2025, marks the last day of the financial year—and it comes with banking limitations that could impact individuals and businesses alike. While banks across India will remain operational on March 31, customers should be aware that many essential financial services may not function as expected. Transactions such as RTGS, NEFT, cash deposits, withdrawals, and certain payment processes may be temporarily suspended or delayed due to end-of-year reconciliations and system restrictions. This disruption makes it crucial for everyone to complete time-sensitive financial transactions ahead of the March 29 deadline. Since March 30 falls on a Sunday, and March 29 is a Saturday when banking hours are often shortened, March 29 becomes the practical cut-off for hassle-free banking operations.
 

What Banking Services Will Be Affected on March 31?

Fund Transfers (RTGS & NEFT):
Customers should note that Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems may not be available on March 31. These interbank systems often undergo year-end maintenance or internal closure procedures, making it impossible to execute high-value or scheduled fund transfers on that day.
 

Cash Deposits and Withdrawals:
Although bank branches will be open, they may not allow cash-related services such as deposits or withdrawals due to internal account closing and year-end balancing activities. This can affect individuals hoping to make last-minute payments or businesses depositing cash collections.
 

Salary and Vendor Payments:
Businesses are urged to clear payroll and vendor obligations before March 29 to ensure their employees and partners receive payments on time. Any delay could not only result in operational inefficiencies but may also reflect poorly on accounting statements for the financial year.
 

Income Tax and GST Payments:
For those planning to make final tax submissions, including income tax, advance tax, or Goods and Services Tax (GST) payments, it is critical to do so before March 29. A failure to comply with deadlines could lead to penalties, interest accruals, or missed compliance filings.
 

Loan Repayments and Utility Bill Payments:
If you have EMI payments or credit card dues due around this time, ensure they’re cleared before the weekend to avoid late charges. Similarly, utilities like electricity, internet, and phone bills should be paid early to prevent service interruptions.
 

Investments and Market Transactions:
Investors should also consider this timing if planning any final adjustments to their portfolios. Stock market activity will not be directly affected, but settlement processes and related fund movements could see delays if processed through traditional banking methods.
 

What Will Still Work on March 31?

Despite the disruptions to core banking, many digital services are expected to remain functional. Platforms like UPI (Unified Payments Interface), IMPS (Immediate Payment Service), and mobile banking apps will likely operate without interruption, allowing users to carry out basic money transfers, bill payments, and balance checks. However, given the potential for service-specific downtime, customers are encouraged to verify the availability of services with their respective banks. Some private and public sector banks may issue individual notices detailing the availability of services during this critical window.

Recommendations for Individuals and Businesses:

• Complete fund transfers, tax payments, and cash transactions by March 29.

• Avoid scheduling important RTGS/NEFT transactions for March 31.

• Clear EMIs, credit card bills, and utility dues before the weekend.

• Ensure all business-related settlements and accounting closures are finalized early.

• Monitor your bank’s updates for specific service hours and limitations.

As the fiscal year draws to a close, both individuals and organizations are advised to stay proactive. Delaying transactions until the last minute could mean missing compliance deadlines or dealing with unwanted disruptions. A little foresight now can ensure smooth financial closure for the year.