RBI offices handling Government business and designated branches of agency banks will operate during regular hours on March 30, 2024, and March 31, 2024.
The Reserve Bank of India (RBI) has declared that all branches of banks handling Government transactions will operate on March 30 and March 31 as regular working days, with normal business hours.
In a notification dated March 20, 2024, the RBI stated, "At the request of the Government of India to ensure timely accounting of all fiscal year 2023-24 transactions, branches dealing with Government receipts and payments will remain open on March 31, 2024 (Sunday). Consequently, Agency Banks are instructed to keep all relevant branches open on that day."
Additionally, in a press release dated March 22, 2024, the RBI announced, "In an effort to enhance taxpayer convenience, RBI offices handling Government business and designated branches of agency banks will operate during regular hours on March 30, 2024, and March 31, 2024." Transactions via NEFT and RTGS will continue until midnight on March 31, 2024.
The central bank emphasized that these measures aim to facilitate seamless Government transactions. Special clearing operations will be conducted nationwide for Government cheques on both March 30 and March 31, 2024. Agency Banks are advised to present all Government-related cheques during these special clearing sessions, with specific timing to be communicated later.
Furthermore, for reporting Central and State Government transactions to RBI, including uploading GST/TIN2.0/ICEGATE/e-receipts luggage files, the reporting window for March 31, 2024, will remain open until noon on April 1, 2024.
Previously, the Income-tax department had announced the cancellation of the long weekend for its employees.
With the fiscal year 2023-24 ending on March 31, 2024, which falls on a Sunday, and March 30 being a Saturday, the last week of the month would have constituted a long weekend, including Good Friday on March 29, a public holiday.
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