The Reserve Bank of India (RBI) has suggested banks to maintain its branches coping with authorities enterprise to stay open on March 31, the final day of the present monetary 12 months is a Sunday.
“The Government of India has requested to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) to account for all the Government transactions relating to receipts and payments in the FY2023-24 itself,” the RBI stated in a notification.
Accordingly, company banks are suggested to maintain all their branches coping with authorities enterprise open on March 31, 2024 (Sunday), it stated.
The RBI has stated that every one branches of the banks coping with Government receipts and funds will stay open for transactions on March 30 and March 31 to account for all of the Government transactions regarding receipts and funds within the FY 2023-24 itself.
“In order to facilitate Government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country. Special clearing will be conducted for Government cheques both on March 30 & 31, 2024. Agency Banks are hereby advised that all cheques related to Government accounts may be presented on such clearing. The timing for presentation and return clearing of instruments for these special clearing sessions for government cheques will be intimated in due course,” it stated in an announcement.
According to studies, all digital transactions may also be obtainable till the required time on each days. In addition, transactions made via the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will proceed to happen usually until midnight on 31 March 2024.
