RBI says agency banks to stay open Mar 31 for govt transactions
This story was originally published at 18:27 IST on 17 March 2025
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NEW DELHI – Branches of banks dealing with government business will be kept open on Mar. 31 to enable taxpayers to make transactions within the financial year itself, the Reserve Bank of India said in a release Monday. Mar. 31, the last day of the financial year, is a gazetted holiday for Id-ul-Fitr.
Arrangements have also been made to conduct special clearing operations across the country in order to facilitate the accounting of government receipts and payments in the current financial year itself, the central bank said.
All agency banks should keep branches dealing with government receipts and payments open for over-the-counter transactions related to government transactions up to the normal working hours on Mar. 31, 2025, the RBI said in a separate notification on Monday.
The Department of Payment and Settlement Systems will also ensure a special cheque clearing service on Mar. 31 for government cheques, the RBI said. Agency banks can also report central and state government transactions to the RBI for FY25 until 1200 IST on Apr. 1, the notification said. End
Reported by Aaryan Khanna
Edited by Saji George Titus
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