The Reserve Financial institution 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 Authorities of India has requested to maintain all branches of the banks coping with Authorities receipts and funds open for transactions on March 31, 2024 (Sunday) to account for all of the Authorities transactions referring to receipts and funds within the FY2023-24 itself,” the RBI mentioned in a notification.
Accordingly, company banks are suggested to maintain all their branches coping with authorities enterprise open on March 31, 2024 (Sunday), it mentioned.
The RBI has mentioned that every one branches of the banks coping with Authorities receipts and funds will stay open for transactions on March 30 and March 31 to account for all of the Authorities transactions referring to receipts and funds within the FY 2023-24 itself.
“To be able to facilitate Authorities receipts and funds, vital preparations have additionally been made to conduct particular clearing operations throughout the nation. Particular clearing might be performed for Authorities cheques each on March 30 & 31, 2024. Company Banks are hereby suggested that every one cheques associated to Authorities accounts could also be offered on such clearing. The timing for presentation and return clearing of devices for these particular clearing periods for presidency cheques might be intimated sooner or later,” it mentioned in an announcement.
In response to experiences, all digital transactions will even be obtainable till the desired time on each days. As well as, transactions made by means of the Nationwide Digital Funds Switch (NEFT) and Actual Time Gross Settlement (RTGS) System will proceed to happen usually until midnight on 31 March 2024.
