This has been acknowledged in a directive by RBI.
Bank branches have been requested to stay open with the intention to course of all authorities funds and receipts for the fiscal 12 months 2023–2024.
Banks throughout India must hold their branches, coping with authorities work, open on the final day of the fiscal 12 months – that’s, March 31. This has been acknowledged in a directive by the Reserve Bank of India (RBI). This 12 months, March 31 occurs to be a Sunday. According to the central financial institution, all financial institution branches have been requested to stay open with the intention to course of all authorities funds and receipts for the fiscal 12 months 2023–2024. “The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday), so as to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself. Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday),” the RBI mentioned in a notification on Wednesday.
Several public-sector banks (PSBs) listed as company banks by the RBI embody Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, and Indian Overseas Bank. Similarly, a number of non-public banks listed as company banks by the RBI embody Axis Bank Ltd, City Union Bank Ltd, DCB Bank Ltd, Federal Bank Ltd, HDFC Bank Ltd, and ICICI Bank Ltd.
Previously, the Income Tax Department introduced the cancellation of the lengthy weekend from March 29 to March 31, citing pending tax-associated duties. March 29 marks Good Friday, a vacation, adopted by March 30, a Saturday, and March 31, a Sunday. March 29 to March 31 can be a working day for all Income Tax Offices all through India.
RBI Governor Shaktikanta Das met with Finance Minister Nirmala Sitharaman in preparation for the central financial institution’s rate of interest-setting panel assembly subsequent month. The minister held a separate assembly with SEBI Chairperson Madhabi Puri Buch at her workplace in North Block.
