To facilitate taxpayers. The Reserve Bank of India (RBI) has mandated that banks remain open on Saturday and Sunday as well. All bank branches and offices associated with government operations are to open on March 30-31. As per an instruction from the RBI. Considering that this is the final day of the current fiscal year. Banks have been told to stay open on Saturday and Sunday as well. By the RBI’s directive, banks nationwide will continue to operate during regular business hours on March 30 and 31, the final two days of the fiscal year. However, many are wondering if they will be able to use financial services on that particular day.
March 30 and 31 fall on a Saturday and a Sunday. To facilitate the annual financial year account closing of government accounts, RBI has decided to keep banks and government offices open on Saturday and Sunday, even though they are normally closed. It might be simpler. Additionally, all Income Tax offices in India will be open on weekends to finish up unfinished departmental work.
Which banking services are going to be offered?
Despite the weekend, banks and income tax offices will be open on March 30 and 31 if you have any tax-related work to accomplish before the end of the month. The RBI has announced that only agency banks will be open on this particular day. Let us explain. Banks designated as agency banks are those that are permitted to accept payments and receipts from the government. Twelve government banks and twenty commercial banks are on this list.
The RBI states that till March 31, 2024, at midnight, transactions can be completed via NEFT and real-time payment systems (RTGS). The RBI states that government checks will be cashed. To do this, a unique clearing procedure will be conducted on 30 and 31 March 2024. The reporting window of March 31 will remain open till noon on April 1, 2024.
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