On April 1, 2026, banks across most of India will be closed for the annual account closing, affecting numerous customers who may find their local branches locked. This closure applies to all scheduled commercial banks, including major institutions like the State Bank of India, Punjab National Bank, and HDFC Bank.

Branches are set to reopen on April 2, except in Kerala, where business will be suspended due to Maundy Thursday. In total, banks in six states—Mizoram, Sikkim, Nagaland, Jharkhand, Meghalaya, and Himachal Pradesh—will remain open on this day.

While physical branches will be closed, digital banking services such as ATMs and UPI will operate normally, allowing customers to access their funds and conduct transactions. However, cheque clearance and settlement-linked transactions may experience delays due to the year-end closing.

April is known for having several bank holidays, including Maundy Thursday and Good Friday, which can lead to a maximum of 14 days of closures throughout the month. Customers should be aware of these dates to plan their banking needs accordingly.

As one official noted, “If you tried visiting your bank branch on Wednesday and found it locked, you are not alone — and there is nothing wrong with your account.” This statement highlights the routine nature of the closure, which is part of the annual banking cycle.

The Reserve Bank of India (RBI) categorizes bank holidays under three classifications: the Negotiable Instruments Act, RTGS holidays, and Banks’ Closing of Accounts. This structured approach helps manage customer expectations during busy periods.

For most customers, the day will pass without any real disruption, as many are accustomed to utilizing digital banking options. However, it is advisable to plan ahead for any transactions that may require physical bank services.

As April approaches, banks will continue to inform customers about the specific dates and services affected by the holidays. Customers are encouraged to stay updated through official communications from their respective banks.

Details remain unconfirmed regarding any additional changes to banking operations during this period. As always, customers should check with their banks for the latest information.

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The UK High Court’s recent decision to reject Nirav Modi’s plea to reopen his extradition case marks a critical juncture in a high-profile fraud investigation that has drawn international attention. The court’s ruling underscores the significant implications for Modi, who is wanted in India for his alleged involvement in a massive fraud against Punjab National Bank, amounting to approximately ₹11,000 crore (around $1.4 billion).

Nirav Modi, a fugitive diamond merchant, fled India in 2018 amidst allegations of orchestrating a complex scheme that defrauded the Punjab National Bank. His arrest in the UK in 2019 initiated a lengthy legal battle over his extradition. The recent ruling by the UK High Court relied heavily on assurances provided by the Government of India regarding Modi’s treatment upon extradition, which the court deemed comprehensive and reliable.

The court emphasized that the assurances were specific and enforceable through Indian courts, stating, “The assurances are cognisable at a diplomatic level because the consequences of any breach would be extremely damaging to the relationship of mutual trust and confidence between India and the United Kingdom.” This statement highlights the delicate balance of international relations at play in this case.

Modi’s application to reopen the appeal was based on a judgment from February 2025 concerning another extradition matter involving Sanjay Bhandari. However, the UK High Court found that the grounds presented by Modi did not meet the threshold of exceptional circumstances necessary to warrant a reopening of the case. The court noted that the assurances provided by India were detailed and not vague, reinforcing the strength of India’s position.

In his defense, Nirav Modi has consistently claimed that he did not commit fraud against Punjab National Bank and has accused the bank of colluding with the Central Bureau of Investigation (CBI) to tarnish his reputation. Despite these assertions, the court’s ruling indicates a strong reliance on the evidence and assurances provided by Indian authorities.

The implications of this ruling are significant not only for Modi but also for the broader context of legal cooperation between India and the UK. The court’s decision reflects a commitment to uphold the rule of law and the importance of mutual trust in extradition matters. As the legal proceedings unfold, the relationship between the two nations will be closely scrutinized.

As of now, the future remains uncertain for Nirav Modi, with potential further developments expected in the extradition process. Details remain unconfirmed regarding any next steps he may take in response to the court’s ruling. The ongoing saga of this high-profile case continues to capture the attention of legal experts and the public alike, as it unfolds in the context of international law and diplomacy.

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Previously, Anil Ambani was considered one of India’s wealthiest industrialists, with a vast portfolio that included Reliance Communications Ltd. However, recent developments have drastically altered this perception.

Recent Developments

On February 27, 2026, Anil Ambani failed to appear before the Enforcement Directorate (ED) after being summoned for questioning regarding a money laundering investigation. This absence marks a significant moment in the ongoing scrutiny of his financial dealings.

In a decisive action, the ED attached Ambani’s Pali Hill residential property, valued at Rs 3,716.83 crore, under the Prevention of Money Laundering Act. This attachment is part of a broader investigation that has seen the cumulative value of assets linked to Ambani’s group exceed Rs 15,700 crore.

Legal Implications

Additionally, the Central Bureau of Investigation (CBI) has registered a First Information Report (FIR) against Ambani and Reliance Communications, alleging bank fraud involving over Rs 1,085 crore. The FIR was initiated by Punjab National Bank’s Stressed Assets Management Branch, highlighting the serious nature of the allegations.

The investigation suggests that Ambani and his companies caused wrongful losses to Punjab National Bank and United Bank of India between 2013 and 2017. The State Bank of India has classified Reliance Communications and Anil Ambani as ‘fraudulent’ under Reserve Bank of India guidelines, further complicating his financial standing.

Ongoing Investigations

The ED is currently probing an alleged loan fraud involving Reliance Communications that exceeds Rs 14,000 crore. This investigation has revealed large-scale misuse of bill discounting and potential siphoning of funds abroad through foreign remittances.

Moreover, it has come to light that loans raised by one entity within the group were used to repay borrowings of other companies, indicating a complex web of financial mismanagement.

Expert Perspectives

Experts suggest that these developments could have far-reaching implications for Ambani’s business empire, which has already been under significant financial strain. The total outstanding loans availed by Reliance Communications from domestic and foreign lenders amount to Rs 40,185 crore, underscoring the precarious nature of his financial situation.

As the investigations proceed, the future of Anil Ambani and his business interests remains uncertain. Details remain unconfirmed regarding the full extent of the legal repercussions he may face as these cases unfold.

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